Rio Tinto to Cut Costs, Jobs at Australia Coal Mine

Date : 07/19/2012 @ 2:25AM
Source : Dow Jones News
Stock : Rio Tinto (RIO)
Quote : 39.99  0.46 (1.16%) @ 1:04PM

Rio Tinto to Cut Costs, Jobs at Australia Coal Mine

Rio Tinto (NYSE:RIO)
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   By Robb M. Stewart 
 

MELBOURNE--Rio Tinto PLC (RIO) expects to cut jobs at a coal mine in Australia's northeastern Queensland state as it seeks to reduce costs after being hit by significantly lower prices for thermal coal, a spokesman for the company said Thursday.

"A review is underway and although the details are to be worked out, it will unfortunately mean redundancies will be required," the spokesman said.

Write to Robb M. Stewart at robb.stewart@wsj.com

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