Friday, 16 November 2012 15:08
Miner Whitehaven Coal has responded to the decline in global coal prices by announcing that it will scale back its presence in Brisbane and sack 10 workers.
The decision affects the company's business development unit and Brisbane presence, it said in a statement on Friday.
Whitehaven executive general manager of business development Peter Kane has lost his job.
"This decision has been taken in the context of our ongoing cost-reduction initiatives and adjustments across the business to ensure the broader business remains competitive," Whitehaven managing director Tony Haggarty said.
"Whitehaven is not immune to the continued decline in global coal prices and like all coal companies we are having to make difficult decisions in order to ensure we have an appropriate cost-base.
"A very small number of technical services staff will remain in a relocated and smaller Brisbane office to ensure exploration projects are maintained and obligations to joint venture partners are met."
Mr Haggarty said the company's focus was on its existing mines and its new Maules Creek and Vickery projects, but it was confident of the long-term value of its development assets.
"As global coal prices improve we will continually revisit the status of our development plans," Mr Haggarty said.
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