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Anglo American to cut 85,000 coal jobs worldwide

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Australian coal communities are bracing for more job losses after mining giant Anglo American announced a “radical” restructuring of its global portfolio.

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Anglo American is cutting 85,000 jobs worldwide, including in Queensland and NSW, but says some of the jobs will be transferred via asset sales as it writes off billions of dollars owing to the closure of loss-making mines as commodity prices crash.

UK-listed Anglo has previously flagged its intention to sell stakes in its Dawson, Foxleigh and Callide coal mines in Queensland and its mothballed Dartbrook coal mine in NSW.

The company published a graph showing the expected decline in global jobs – to 99,000 next year and 92,000 in 2017 followed by another sharp reduction – via a combination of asset sales and internal cuts.

“Bear in mind that these include assets that we will sell, so the 85,000 jobs don’t (all) disappear as many will be employed by new owners of those mines that we sell,” a spokesperson confirmed in an email to AFP.

The net result is expect to be a reduction to around 50,000 employees, the spokesperson said.

Anglo American also runs the Capcoal operations in central Queensland, Moranbah North in northern Queensland and Drayton in NSW.

It also holds a 40 per cent stake in GEMCO, a manganese mining operation at Groote Eylandt in the Northern Territory.

Further comment is being sought from Anglo American.

AAP 

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