Glencore cuts production at two Australian coal mines

PERTH, June 27 Wed Jun 26, 2013 9:20pm EDT

PERTH, June 27 (Reuters) - Glencore Xstrata said on Thursday it has cut back coal production at two of its Australian coal mines due to lower coal prices, high costs and the strong Australian dollar.

As part of the production cuts at its Newlands and Oaky Creek mines, the company said it will layoff about 450 employees at the two mines by the end of the year.

Earlier on this week, Glencore said it had laid off 46 workers at its Ravensworth coal mine.

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