News

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




WATCH: Barefoot bandits reverse ute into Leagues Club

Offenders used a stolen ute to smash through the front doors of the CQ Leagues Club in a ram raid in the early hours of Thursday morning.

It's believed the offenders also hit two other businesses

Woman charged for car-jacking assault released on bail hours earlier, court heard

Juanita Caston

27-year-old charged for assaulting 48-year-old woman on Monday night

Three Rocky region businesses ram raided with stolen ute

Stolen car allegedly used to ram raid three businesses overnight

Latest deals and offers

Babylon 5's Jerry Doyle has died

Jerry Doyle has died from unknown causes at the age of 60

Mum driver heroically ignores hilarious lip-syncing son

Hilarious moves while Mum concentrates on the road.

IF IT takes a village to raise a child, why aren't they driving?

Twitter adds dancing David Brent emoji

Ricky Gervais's character has its own emoji now

Cyndi Lauper opens up about mother's dementia

Cyndi Lauper says her mother Catrine has "a little dementia".

Lindsay Lohan 'calls off engagement'

Lohan reportedly called off her engagement to Russian millionaire

Tackling depression through song and story

BUSKER: Brian Musch. Photo: Bec Cawthorne

Giving back through song and speech

You can own this Queensland town for just $1

Yelarbon

Unprecedented auction of town's business centre with no reserve

Work starts on $15M Caloundra apartment building

Turning the first sod at the Aqua View Apartments site in Kings Beach are (from left) husband-and-wife developers Alex Yuan and Stella Sun with construction company Tomkins director Mike Tomkins and Councillor Tim Dwyer.

Developers excited about addition to Kings Beach skyline

Iconic Denison St building sold for close to $1M

The Swan Hotel building in Denison St.

ONE of Rockhampton’s most iconic buildings has been sold

Unique Rockhampton bar hits the market

HOT PROPERTY: Cuban themed bar Chango Chango is up for sale.

Popular Rocky bar hits the market.

72-year-old Coast developer set to start new project

GREEN LIGHT: The Cosmopolitan has been approved for development at Cotton Tree.

Meet the Canberran set to deliver another chapter for Coast suburb

Plans revealed for 1500-lot 'master-planned community'

Precinct will be bounded by Boundary St and Shoesmith Rd