By Jonathan Hair
Mining large Glencore has declared it is slicing one hundred eighty of the 230 jobs at its Collinsville mine in north Queensland as a outcome of falling coal charges.
Glencore stated most of the occupation cuts would take place from March 2016.
In a statement, the mining huge explained reduce coal rates and marketplace oversupply had contributed to the procedure incurring monetary losses this calendar year.
The business explained the recent coal marketplace as 1 of the most challenging in the industry’s modern historical past and mentioned the shift was a consequence of difficulties being faced by all Australian coal mines.
Glencore mentioned assist services had been in location for employees and their households influenced by the go.
The Collinsville operation in Queensland’s Bowen Basin has been beneath fiscal strain for significantly of 2015.
In Might, Glencore cut 80 positions from the exact same mine in an try to minimize coal generation at the website.
Collinsville is Queensland’s oldest coal mine and has been in procedure for virtually a hundred several years.
Matters: coal, mining-market, mining-rural, unemployment, collinsville-4804, townsville-4810