Industrial Metals

MarketWatch reported that Anglo American is cutting jobs at its Grasstree Coal mine.

MarketWatch reported that Anglo Amercian is cutting jobs at its Grasstree Coal mine.

As quoted in the market report:

Job losses have mounted in recent months as mining companies have struggled with weak prices for both steelmaking metallurgical and electricity-generating thermal coal. BHP Billiton Ltd.  has closed two coal mines in Queensland this year, Xstrata PLC has said it will lay off roughly 600 workers and Rio Tinto PLC has reduced its workforce and will this month shut an aged coal mine.

To view the whole MarketWatch report, click here.

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