Coal miners wield jobs axe

Coal miners wield jobs axe

Sydney : Australia | Dec 15, 2008 at 8:43 PM PST
Source: Sydney Morning Herald
Views: Pending
Xstrata has shut down half its coking coal production at a mine in Queensland, the latest cutback by miners in the country as a slowdown in global steelmaking slashes demand for coal and other raw materials. London-listed Xstrata suspended mining of the longwall at its Oaky Creek Number One project,... FULL ARTICLE AT Sydney Morning Herald
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  • Miners slash jobs as downturn sets in

      The Daily Telegraph (Australia)
    Anglo-Swiss mining giant Xstrata will lay off 40 full-time workers and about 190 contractors after suspending mining of the longwall at its Oaky Creek Number One project in central Queensland. Oaky Creek Number One yielded 6.2 million tonnes of coal...
  • Falling sales hit Macarthur Coal

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    Macarthur's shares fell 22 per cent after it predicted a profit between A$75 and A$125 million ($90 and $150 million) in the six months ending December 31. That was as much as 53 per cent lower than the Brisbane company's forecast last month. The...
  • Mine jobs go as coal collapses

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    Yesterday 545 jobs were cut in Queensland, which began to slash production of coking coal, the nation's most valuable export. The sharp fall in demand for raw materials that hit West Australian iron ore in recent months has now spread to Queensland,...
  • BHP urged to cut coking output

      The Age
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  • China slowdown cripples coal

      The Courier-Mail
    Chinese economy yesterday slammed Queensland resource stocks with the Macarthur Coal share price tumbling 22 per cent. The drop came after the group announced a major profit downgrade and cost cutting. Macarthur also suspended its interim dividend...
  • Macarthur slashes profit forecast

      Sydney Morning Herald
    Macarthur Coal to slash profit forecasts and suspend its interim dividend as customers postpone orders. Macarthur yesterday became Australia's first coal producer to cut profit forecasts, almost halving its outlook for the December half to between $...

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