Rio Tinto (RIO) reported iron ore shipments (on a 100% basis) of 80.3 million tons (Mt) for the second quarter of 2024, which rose 2% year over year, attributed to the drawdown of port stocks. The company’s iron ore production dipped 2% to 79.5 Mt as ore depletion offset productivity gains. A train had derailed in mid-May at its Western Australia iron ore operations, which led to six days of lost rail capacity and full stockpiles at some mines, impacting shipment and production numbers for the quarter. Baux ...