(Reuters) – Anglo American said on Thursday it had cut a “small number” of jobs at its office in Brisbane in Australia and nearby coal mines as part of the miner’s efforts to simplify its operations and adapt to lower coal prices and rising costs.
The unspecified number of layoffs in Queensland comes a day after larger peer BHP slashed 750 jobs at a coking coal mine in the same region, citing low coal prices and high state government royalties that have dented its returns.
“These changes are essential to secure the future of our steelmaking coal operations in Central Queensland,” said Ben Mansour, vice president for people and corporate relations at Anglo American Australia, adding that most of the cuts were through voluntary redundancies.
Australia’s ABC News said 200 positions at Anglo American were affected, citing the Isaac Regional Council. The local government body did not immediately respond to Reuters’ request for comment.
Anglo American operates five coal mines in Queensland’s Bowen Basin, which produce steelmaking coal, according to the company’s website. Last year, it sold 33% in one of its Australian steelmaking coal mines for $1.1 billion, to focus on core copper assets.
The company announced last week a proposed merger with Canada’s Teck Resources, in what will be the second-largest mining deal ever.
(Reporting by Prerna Bedi and Pushkala Aripaka in Bengaluru; Editing by Eileen Soreng)
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