Author: Paul Ploumis16 Jun 2014 Last updated at 08:39:29 GMT
LONDON (Scrap Monster): Due to the industrial battle for job cuts and mine closure, BHP Billiton decide to pull back its activity at Goonyella coking coal mine in Queensland for avoiding the operations slipping into the red.
The miner said that its contract for pre-stripping at Goonyella Riverside would terminate in September. It is almost two years ahead of its June 2016 expiry. Contract of pre-stripping is the first step for preparations in new mining areas within existing operations.
BHP Billiton coal president, Mr. Dean Dalla Valle said that the move was o make sure the long term viability of company’s coal business. He added that the coal industry was undergoing a hard transition and to be competitive globally they had to reset the business cost base. The coal producers have to take adequate step changes to create value for their stakeholders.