Rio Tinto on Wednesday posted a lower-than-expected rise in iron ore shipments for the second quarter, but forecast fiscal 2025 copper production at the higher end of its guidance range. Iron ore shipments at Rio Tinto,

The world’s second-biggest miner by market value said it continues to expect annual shipments from its Pilbara iron-ore operations to be at the lower end of its guidance.

Rio Tinto Group’s second-quarter iron ore shipments largely recovered from cyclone impacts in the previous three months, as the major miner prepares for a new chief executive officer to take charge.