BHP Bil­li­ton to cut 380 jobs at Aus­tralia's Olympic Dam

The Pak Banker - - BUSINESS -

SYD­NEY: BHP Bil­li­ton (BLT.L) (BHP.AX) said on Sun­day it would cut 380 jobs at its Olympic Dam cop­per and ura­nium mine in Aus­tralia, cit­ing global mar­ket con­di­tions in the re­sources sec­tor and a de­sire to en­sure the pro­ject was sus­tain­able. The de­ci­sion was "driven by the global chal­lenges in the re­sources sec­tor, and the need to trans­form Olympic Dam into a sus­tain­able op­er­a­tion," Jac­qui McGill, pres­i­dent of the miner's Olympic Dam As­set op­er­a­tion, said in a state­ment

Lo­cated in South Aus­tralia, Olympic Dam pro­duces cop­per, ura­nium and smaller amounts of sil­ver and gold. A com­pany spokes­woman said the de­ci­sion fol­lowed a re­view of oper­a­tions which has just been com­pleted. The 380 job losses fol­low ear­lier an­nounced cuts of around 140 mainly ad­min­is­tra­tive po­si­tions and will even­tu­ally bring the op­er­a­tion's staff to around 3,500, down from an ear­lier fig­ure of around 4,000. Most of the roles af­fected in the latest cuts are on site at Olympic Dam and the com­pany said some em­ploy­ees may be of­fered new po­si­tions. Fi­nal im­ple­men­ta­tion of the op­er­a­tional re­view is ex­pected by around midSeptem­ber, the com­pany said.

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