By Jonathan Davies

Mining giant Rio Tinto has reported an incredible 82% fall in profits for the first half of the year.

The Anglo-Australian firm posted profits of $806 million, down from $4.4 billion in the same period last year.

Rio Tinto said that slowing demand in China had a huge impact on iron ore prices.

Despite the plummeting of its profits, chief executive Sam Walsh said "this is a robust set of results, given the tough operating environment".