Rio Tinto crashed to a $US3 billion loss in 2012, on the back of the $14.4 billion writedowns of its aluminium and coal businesses that cost former Rio boss Tom Albanese his job.
And although the paper loss was well flagged to the market, the Rio results released this afternoon also showed just how much its iron ore division was crunched by the sharp crash in commodity prices in the middle of last year.
Despite Rio chairman Jan Du Plessis saying the company had "performed well" in the circumstances, Rio's underlying earnings dropped 40 per cent from $US15.5 billion in 2011 to $US9.3 billion last year.More to come .
The new magazine for a new generation of West Australians.Click here to download the current edition »
All the latest market figures from Australia and the world.Click here »
'The West Australian' is a trademark of West Australian Newspapers Limited 2013.
All rights reserved.
Select your state to see news for your area.