RIO Tinto is cutting output from its Kestrel coal mine in Queensland by 15 per cent in response to weaker demand from steelmakers.
The cuts from the underground coking coal mine, which produced 1 million tonnes of premium hard coking coal in the third quarter, are in response to the slowdown in the steel industry globally, a Rio Tinto spokeswoman said.
“Shipments are down from the Kestrel mine and in response it is lowering its production slightly,” she said.
The miner will cut 50 full time equivalent positions at the mine, with the cuts to be to contractors rather than company employees.
No cuts are currently planned at Rio Tinto’s other Australian coal mining operations, the spokeswoman said, but the mines will be included in a global review of operations being carried out by the company in the wake of slowing demand and falling prices.
Source: The Australian
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