SubZero MD offers reduction in remuneration

THE board of Hunter Valley mine services group SubZero has approved a 15% reduction in the base salary of managing director Joe Clayton to $380,000.

Lou Caruana

Industry veteran Clayton said he was willing to reduce his compensation in recognition of the company’s “present circumstances and the difficulties that all stakeholders are experiencing in the Hunter Valley region”

SubZero’s clients are almost exclusively involved in the Hunter Valley thermal coal mining industry.

Its services include mechanical support (on and off-site mining machinery support), structural support (on and off-site engineering support) and production support (mining production support).

The company has a presence in over 25 coal mines and over 90 clients including Rio Tinto, BHP Billiton and Glencore.

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