Rio Tinto Group, the world’s third- largest mining company, settled contract iron ore prices with its European customers.

“We have settled with Europe,” said Amanda Buckley, a spokeswoman for the London-based company. She couldn’t comment on the price increase secured. Settlements “tend to vary with the customer’s freight arrangements.”

Rio sells less than one percent of its iron ore to Europe, she said.

BHP Billiton Ltd. spokeswoman Samantha Evans wasn’t able to comment on whether BHP had settled with its European customers.