Gregory mine to shut next month
BHP Billiton Mitsubishi Alliance (BMA) today announced it would cease production at its Gregory open-cut mine, which is part of the Gregory Crinum complex near Emerald, from October 10.
About 300 positions will be impacted by the decision.
The decision follows a continuing operational review of the Gregory Crinum operations, which determined that the Gregory open-cut mine production was no longer profitable in the current economic environment of falling prices, high costs and a strong Australian dollar.
BMA Asset President, Stephen Dumble said production costs for the open-cut Gregory mine currently exceed the revenue from product sales, and therefore the only option available to the company was to cease production.
Check out tomorrow's Bully for more information.