Downer EDI to cut jobs at coal mine

Downer EDI is to cut 185 of its 680 jobs at a Queensland coal mine by July 1 this year as the BHP Billiton Mitsubishi alliance further drives down costs in response to weaker prices, according to the Wall Street Journal.

Downer EDI is to cut 185 of its 680 jobs at a Queensland coal mine by July 1 this year as the BHP Billiton Mitsubishi alliance further drives down costs in response to weaker prices, the Wall Street Journal reports.

Michael Sharp, the group head of corporate affairs and investor relations, said BHP Billiton Mitsubishi would take over some of the “pre-strip” work at the Goonyella Riverside coking coal mine from the contracted engineering and mining-services company.

Sharp added that the contract with BHP Billiton Mitsubishi at the mine is still the largest of Downer’s operations.

The stock has climbed 2.7% to $3.49 at 1253 AEST.