Loss of red mitten processed (9)
I believe the answer is:
detriment
'loss' is the definition.
(thesaurus)
'red mitten processed' is the wordplay.
'processed' indicates an anagram.
'red'+'mitten'='redmitten'
'redmitten' anagrammed gives 'DETRIMENT'.
'of' acts as a link.
(Other definitions for detriment that I've seen before include "Harm, damage" , "State of being harmed or damaged" , "hurt" , "Possible loss" , "Damage, loss" .)