Explosive’s maker, Orica Limited ( ASX:ORI), will shed hundreds of jobs within its mining consumables unit.
The Australasian company says 400 jobs will go, but ruled out selling its Minova consumables unit, despite a clear drop in volumes of 15 per cent.
The news follows more than one broker cuttings its growth forecast for Orica’s full year earnings, by two per cent.
Orica last turned in a $424 million net profit to the 30th of September 2012.
