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.

Vale SA (VALE) has released an update. Vale SA reported a successful Q3 with record iron ore production reaching 91 million tons, a 5% increase year-over-year, boosting its production guidance for 2024.

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.

Brazilian miner Vale reported on Tuesday a 5.5% increase in its third-quarter iron ore production compared to a year earlier, reaching the highest level in almost six years.

IRON ore futures fluctuated around $106 a ton in Singapore after slumping 1.5% on Tuesday reflecting volatility in the mineral due to China stimulus efforts and increased production from Western miners.

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.

The world’s second-biggest miner by value said it produced slightly more iron ore from its Australian operations in the third quarter of 2024 but cautioned on inflation pressures.

Rio Tinto reported a 1% rise in third-quarter iron ore shipments on Wednesday, but marginally missed market expectations, as operational improvements at its Pilbara operations lifted output. Iron ore prices remained under pressure for the larger part of the third quarter due to dimmed demand prospects in top consumer China's steel market amid persistently weak property prices.

This mining giant failed to live up to expectations during the third quarter. The post Rio Tinto share price tumbles on Q3 production miss appeared first on The Motley Fool Australia.