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Downturn sees 450 job losses at Peabody Energy

PEABODY Energy will dump 450 contractors from its 11 coal mines in Queensland and New South Wales, with the workers the latest casualties of the industry downturn.

The mining giant owns seven projects in Central Queensland, including Burton, Coppabella, Eaglefield, Middlemount, Millennium, Moorvale, North Goonyella and Wilkie Creek west of Brisbane.

In a statement, the company said the cuts were in response to market conditions and an effort to lower costs.

"Peabody Energy regrets the impact on the contractors directly affected and is conscious of the likely impacts on communities in which we operate.

"We are taking these steps to secure the long-term competitiveness of our operations."

Already this month, Xstrata cut 46 workers from its Ravensworth coal mine in NSW and Anglo American was preparing to shut down its Aquila underground mine in Central Queensland, affected 80 workers.

The Federal Government estimates 9000 jobs have now been lost throughout the Australian coal industry, with 6000 of those in Queensland since early 2012.

Topics:  job losses, mining, peabody energy




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