MARKETS

Yancoal implements job cuts

YANCOAL has advanced its plan to axe 50 jobs from its Abel underground coal mine in New South Wales.

Blair Price
Yancoal implements job cuts

The market-driven job cuts were announced last month.

According to the Newcastle Herald last week, Yancoal planned to contact nearly 300 employees last Friday to let them know whether they would stay on.

“We are contacting all 290 of our people this morning by phone to advise them of the decisions made," a spokesman told the newspaper on Friday.

The newspaper reported that 35 workers from the Austar longwall, which was set back by a double fatality accident in April, were still based at the Abel mine on Friday.

Yancoal has made the cuts due to weak coal prices and rising operating costs.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions

editions

Mining Magazine Intelligence Exploration Report 2023 (feat. Opaxe data)

A comprehensive review of current exploration rates, trending exploration technologies, a ranking of top drill intercepts and a catalogue of 2022 Initial Resource Estimates and recent discovery successes.