Rio Tinto set to slash hundreds of iron ore jobs
THE AUSTRALIAN MARCH 2, 2016 12:39PM
Rio Tinto is continuing to slash Australian mining jobs as it pursues cost savings and productivity improvements amid the commodities rout, with up to 700 jobs set to go at its profitable West Australian iron ore operations.
The company (RIO) would not confirm or deny the extent of the job cuts, which were reported today in The West Australian newspaper as ranging between 500 and 700.
“We are continuing to transform our business to ensure we remain globally competitive,” a spokesman said.
“Market conditions remain tough and we continue to focus on reducing costs and improving productivity.”
As the commodities rout continues, big miners continue to work on driving down costs to stay afloat or profitable.
The renewed iron ore job cuts come on top of about 800 Rio Tinto losses in Western Australia in recent years.
It comes as China-backed coal producer Yancoal announced the coming mothballingof one of its Hunter Valley mines, which will result in more 90 jobs being lost.
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