The pain of mining austerity: 7000 Queensland coal jobs gone
''Since Glencore merged with Xstrata last month, the company has demonstrated a ruthless and short-term approach to cost-cutting."
''Since Glencore merged with Xstrata last month, the company has demonstrated a ruthless and short-term approach to cost-cutting."
In total, over 1,000 coal jobs have been cut this week alone in Australia's mining sector.
The world’s largest gold company said there might be more job losses in the coming months.
Measure is expected to reduce tensions with the Zambian government, which threatened to take over the mine in May.
Good news for the US economy is bad news for the gold price.
Rio and Xstrata are not the only miners rethinking their coal business in Australia. Vale and BHP are reportedly on the same page.
~Liebherr Mining Equipment Newport News Co. to invest $45.4 million in expansion~
Expansion at the home of pink gems cut back.
The giant miner is struggling to keep its massive Olympic Dam project competitive in the current environment.