World Economy

Billiton to Axe 700 Jobs

Billiton to Axe 700 JobsBilliton to Axe 700 Jobs

Mining giant BHP Billiton Mitsubishi Alliance (BMA) has announced it is to axe 700 jobs at its central Queensland mines. BMA is the largest private employer in the Bowen Basin with more than 10,000 employees and contractors. The cut represented about 7 percent of its workforce. Employees and contractors at the Goonyella Riverside, Peak Downs, Saraji, Broadmeadow, Caval Ridge, Daunia and Blackwater mines could be affected, and the company said consultation would begin in coming weeks. The United Nations has also warned that coal has no future in the world’s energy mix.