Rio Tinto Cuts 78 Contractors at Argyle Mine

The West Australian reported that Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) has dismissed 78 Macmahon Holdings Ltd. (ASX:MAH) contractors at its Argyle diamond mine. However, the company’s contract is ongoing.

As quoted in the market news:

A spokesman for Rio Tinto said the decision was a ‘continuation of our approach to focus on costs, drive for improved efficiencies and transition to a fully underground mining operation’.

‘Like others in the mining industry, we are looking to reduce costs in the business. Seventy-eight contractors from one of our underground contracting companies have been advised that their services on the Argyle underground project are no longer required. These contractors are part of a temporary construction workforce providing administrative, advisory and mining services roles to the project,’ he said.

Click here to read the full report from The West Australian.