BHP Billiton Has Cut 163 Mining Jobs Because Of The Low Coal Price And High Australian Dollar

Image: Ian Waldie / Getty Images.

BHP Billiton today announced it will cut 163 jobs at its Mt Arthur coal mine in the New South Wales Hunter Valley as the lower coal price and high Aussie dollar continue to squeeze the margins of Australia’s miners.

In a statement BHP NSW energy coal asset president Peter Sharpe said changes need to be made to improve productivity and reduce costs at the site.

“In order to remain globally competitive, the cost base of our Mt Arthur Coal operations must be reset,” Sharpe said.

“Regrettably, 163 employees will leave the business in the coming months, and affected employees will be provided with support services and, where appropriate, a redundancy package.”

This is another example of falling productivity rates hitting miners as investment drops away and the industry shifts its focus towards production and export volumes.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.