Rio Tinto slumps into annual net loss as slowdown bites

Rio Tinto on Thursday posted an annual net loss of US$866 million in what the world's number two miner said was a "highly challenging environment" as commodity prices plunge and a growth slowdown in key market China bites deep. The dire result compared with a US$6.53 billion net profit in 2014 and comes as markets -- particularly commodities -- are hammered by a collapse in global demand, chiefly from China where economic growth is at a 25-year low. The company, which is heavily reliant on iron