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Coal Mining Companies Future on Global Crisis, Anglo Coal Cut Mining Jobs
Author:liming Post Date:2009-3-5
Anglo American Plc’s coal unit, which has closed two mines in
About 450 contractors were initially cut after the closures, bringing the total reductions from Australian coal operations to about 1,100 workers, Brisbane-based spokesman Aldo Pennini said today by phone. The company closed the Aquila and Dawson North coal mines in
Chief Executive Officer Cynthia Carroll is seeking to cut 19,000 workers globally to curb costs as plummeting metal prices trims profits. A deepening global recession has slashed demand for steel and prompted mills in Asia, Europe and
“We are waiting to see how the market behaves in the short to medium term and we will make decisions accordingly,” Pennini said.
The company has cut 1.8 million tons of coking coal and 2 million tons of thermal coal production, Macquarie Group Ltd. analysts said in a report today. Pennini declined to comment on production cuts.
Anglo Coal also owns the Callide, Drayton, Foxleigh and Moranbah North coal operation