GLOBAL mining giant Glencore-Xstrata has slashed 450 jobs from two of its central Queensland coal mines.
The decision adds to a dire week for the industry which has included the loss of another 450 jobs from Peabody’s Australian operations, an unspecified number from the Vale-Aquila joint venture at Eagle Downs and the deferral of the Dudgeon Point coal terminal, near Mackay.
The job cuts are unlikely to be the last because coal prices remain only marginally above the cost of production.
Glencore said it was continuing to review its coal operations and could not deny there would be more losses to come.
Chosen excerpts by Job Market Monitor
via Glencore slashes 450 jobs as industry reels from lower prices and higher costs | Herald Sun.
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