Rio Tinto , eked out higher iron ore shipments in the third quarter, largely in line with expectations, and said it remained on track for first production from its Simandou high-grade iron ore project in Guinea next year.

Rio Tinto (NYSE:RIO) said Tuesday it produced slightly more iron ore in Q3 while narrowly missing expectations, while copper and aluminum output came in lower compared to the year-earlier quarter. The world's largest producer of iron ore reported Q3 production from its Pilbara operations in Western Australia of 84.

Rio’s third-quarter output edged up about 1% from a year earlier, while Brazil’s Vale beat estimates to churn out its highest volume since late-2018.