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.

Vale (NYSE:VALE) +1.1% in Wednesday's trading after reporting its highest iron ore production in nearly six years during Q3, rising 5.5% to 91M metric tons for its best quarterly total since Q4 2018.

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.

Vale (VALE, Financial) announced its highest quarterly iron ore production in nearly six years, with its output rising 5.5% to 91 million metric tons in Q3. Moreover, the production boost was primarily driven by the improved operations at three key Brazilian mining projects that include S11D,

BHP Group Ltd. said iron ore output in its first quarter rose 2% from the year before, as concerns grow that moves by major miners to ramp up production of the steel-making material may lead to over-supply.