The trickle of job losses in the coal mining industry is fast turning into a torrent.
Following Peabody Resources’ announcement on Tuesday that it would cut 450 jobs from its New South Wales and Queensland coal mining operations, and Downer EDI’s announcement yesterday that it would axe 185 jobs from its workforce at the Goonyella Riverside coking coal mine in central Queensland, Glencore has today announced that it will layoff about 450 employees at its Newlands and Oaky Creek mines, which comes after 46 job were cut from its Ravensworth mine earlier in the week.
Glencore also said that it has cut back coal production due to lower coal prices, high costs and the strong Australian dollar.
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