Rio Tinto Cuts Kennecott Jobs in Move to Reduce Operating Costs

NASDAQ reported that Rio Tinto has cut 100 jobs at its Kennecott mine in the wake of last month’s landslide as it scrambles to reduce operating costs.

As quoted in the Dow Jones report:

Rio Tinto in mid-April estimated more than 165 million tons of earth had slid into the open pit mine, which would reduce planned copper production by about 50% this year. Equipment, including 14 of its 100 haul trucks, drills and bulldozers, was damaged in the slide. The company also invoked a force majeure clause with customers for its copper and sulphuric acid to reflect uncertainty on the timing of future shipments.

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