Rio Tinto's chief executive, Sam Walsh, said these were challenging times for the industry.
"We've produced a very robust set of numbers despite what continues to be a pretty challenging environment for the mining industry," he said.
"For some time it's been apparent that the economic environment has been adjusting to what is now called 'the new normal'.
"But let's be clear - we'll see continued economic growth from this larger base, including an increase in the long-term demand for all of our commodities."
Mr Walsh suggested that while there was a shift to what he called the "new normal", demand for Rio's commodities should remain strong.
"Since 2008, developed markets in both Europe and USA have been through difficult periods.
"But we do now appear to be seeing signs of recovery.
"And we're starting to sense the potential from emerging market economies including India and Indonesia."
Mr Walsh predicted better times were ahead.
"The economic environment has been challenging particularly for commodities with some prices falling to levels not seen since 2009," he said.
"But this cyclical weakness will pass as the momentum of global economic growth picks up and the commodity markets rebalance."
