BHP Billiton Limited’s (ASX:BHP) Mitsubishi Alliance has flagged about 230 job cuts at its Saraji Coal Mine in central Queensland. Australia’s largest mining company’s coking coal joint venture with Mitsubishi says it is putting the cost-cutting measures in place to guarantee the mine’s future viability.
BHP and Mitsubishi’s Alliance stated at the end of last week, “A fundamental improvement in the cost base of the open-cut operation is required to ensure that it remains competitive.” The Alliance says it has made a number of changes across its operations to reduce costs and increase productivity.
Shares in BHP Billiton gained 1.46 per cent on Friday to the end week at $36.09.
BHP Billiton reported a net profit of $11.9 billion in the 2013 financial year.
