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    coal investing

    Glencore Slashes Eighty Coal Jobs in Queensland

    Investing News Network
    Jun. 02, 2015 11:45AM PST
    Industrial Metals

    Mining.com reported that Glencore (LSE:GLEN) would eliminate eighty jobs at the Collinsville coal mine located in the northern part of the Queensland Bowen Basin.

    Mining.com reported that Glencore (LSE:GLEN) would eliminate eighty jobs at the Collinsville coal mine located in the northern part of the Queensland Bowen Basin.

    As quoted in the market news,

    The cuts, which were announced Wednesday, amount to about one-quarter of the company’s workforce.

    Production will be also be reduced by two million tonnes.

    The company said the cuts were being made due to difficult market conditions, which Glencore calls “historic”.

    Click here for the full Mining.com report

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