Rio Tinto Limited
(ASX:RIO) says it is generating value through the cycle and adjusting to the ‘new normal’ following a period of weakening commodity prices.
This environment has been described as a period of economic adjustment with developed markets recovering and China transitioning to major developed economy.
Rio Tinto has also noted rising demand from other emerging market economies and says the industry is focussed on costs and productivity to improve efficiency.
The miner’s CEO Sam Walsh made the comments when speaking at the Bank of America Merrill Lynch Global Metals, Mining & Steel Conference in Spain yesterday.
Rio Tinto reported a net profit of $7.92 billion in the 2014 calendar year.
