Anglo American to cut hundreds of jobs at coal mines

[Redator]

Anglo American (LON: AAL) will shed more than 200 jobs from its Queensland coal division as weak prices and high state royalties hit profits.

The company confirmed the cuts would fall across its Brisbane office and mine sites, with many roles to go through voluntary redundancies. Production will not be affected, it said.

Workers at the Grosvenor underground mine near Moranbah, which has remained shut since a fire in June 2024, are among those offered redundancies. The Australian Financial Review reported that close to 300 roles would be eliminated, with Grosvenor the main focus.

Anglo, the world’s third-largest seaborne exporter of steelmaking coal, said the decision reflects ongoing market pressures. “These changes are essential to secure the future of our steelmaking coal operations in Central Queensland,” it said in a statement published by the Australian Broadcasting Corporation (ABC).

The miner said it had briefed unions and local officials but declined to confirm the total number of jobs.

Thousands affected

Anglo, which is in the midst of merging with Canada’s Teck Resources (TSX: TECK.A TECK.B, NYSE: TECK), is trying to sell the Queensland mines after a deal with Peabody Energy (NYSE: BTU) collapsed last month.

The news follows BHP’s decision to cut 750 jobs and mothball its Saraji South mine from November. Isaac Regional Council Mayor Kelly Vea Vea said the combined impact of Anglo and BHP’s announcements affects about 1,020 jobs across the region.

“I don’t think that we should be complacent about what this means for the future of the mining sector and in particular resource communities,” Vea Vea told the ABC.

The layoffs add to growing pressure in Queensland’s coal industry after Bowen Coking Coal entered administration earlier this year.