Rio Tinto posts annual net loss of US$866 million

GMT 06:29 2016 Thursday ,11 February

Arab Today, arab today Rio Tinto posts annual net loss of US$866 million

Rio Tinto
Sydney - Arab Today

- Rio Tinto Thursday reported an annual net loss of US$866 million, a sharp fall from last year in what the mining giant's chief executive said was a "highly challenging environment" amid plunging commodity prices, as the Chinese slowdown hits.

It compared to a US$6.53 billion net profit in the previous reporting year.

Underlying profit in the year to December 31, a measure the world's second-largest miner prefers, came in 51 percent lower at US$4.54 billion, from US$9.31 billion previously.

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