Xstrata Plc has suspended operations and cut 230 jobs at its Oaky Creek coking coal mine in Australia as demand slumps.
Xstrata told Bloomberg that “The suspension of long wall operations is in response to reduced market demand and sales for hard coking coal, resulting from the continuing global economic crisis and downturn in the steel and manufacturing industries.”
The company expects to be able to meet customer demands from its current stockpile.
The Oaky Creek No 1 mine, part of Xstrata’s Oaky Creek complex in central Queensland state, produced 6.2 million tonnes of coal in 2007.
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