By Jonathan Hair
Mining giant Glencore has announced it is cutting 180 of the 230 jobs at its Collinsville mine in north Queensland as a outcome of falling coal rates.
Glencore said most of the job cuts would occur from March 2016.
In a statement, the mining giant stated decrease coal prices and market oversupply had contributed to the operation incurring economic losses this year.
The company described the present coal market as one particular of the most difficult in the industry’s recent history and stated the move was a result of challenges being faced by all Australian coal mines.
Glencore stated assistance services were in spot for employees and their families impacted by the move.
The Collinsville operation in Queensland’s Bowen Basin has been below monetary strain for a lot of 2015.
In May possibly, Glencore reduce 80 jobs from the same mine in an try to minimize coal production at the website.
Collinsville is Queensland’s oldest coal mine and has been in operation for almost 100 years.
Topics: coal, mining-sector, mining-rural, unemployment, collinsville-4804, townsville-4810