Rio sacks 40 workers at coalmine
Rio Tinto has cut about 40 employees and contract workers from the Hunter Valley coalmine at the centre of a controversial court ruling last week.
Rio's permission to expand the Mt Thorley Warkworth mine was overturned in the NSW Land and Environment Court last week after residents from the town of Bulga succeeded in a long campaign against the project.
Rio had planned to expand the mine to the extent that open-cut operations came within 2.6 kilometres of Bulga and consumed land that advocates say was promised for conservation.
Rio announced on Monday that it would appeal the decision in the Supreme Court and said the result would prove crucial to the jobs of 1300 people.
Announcement of the appeal coincided with about 40 job losses from the mine on Monday.
Rio spokesman Darren Yeates stressed those job losses were part of a broader cost-cutting program, but were a reminder of how precarious the mine's future was under current conditions.
"Regrettably, 40 employees and contractors are either having their position made redundant or being let go from the site today, as part of this ongoing work," he said.
InvestSMART FORUM: Come and meet the team
We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.
Want access to our latest research and new buy ideas?
Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.Sign up for free