The higher production comes despite an 18% fall in spot prices of iron ore over the September quarter.

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.

Rio last month said it would team up with China Baowu Steel Group to develop an iron ore project for $2 billion as it looks to prop up its production from the Pilbara region.

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.

Vale is set to release earnings Oct. 27 after the close of regular trading.

Multiple producers have faced that tough choice in recent months.

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.