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Whitehaven Coal Ltd Announces Cost Cutting Initiatives At Rocglen And Tarrawonga Mines

Wednesday, 20 Mar 2013 06:10pm EDT 

Whitehaven Coal Ltd announced a number of cost cutting initiatives designed to support the ongoing viability of its Tarrawonga and Rocglen open cut mines in north west New South Wales. The decision has been taken as a result of the continued weakness in global coal prices, the unfavourable foreign exchange rate and increasing pressure on operating cash margins, and follows a detailed review of all of the company’s operations. The changes include amended mine plans that deliver reduced stripping ratios at both operations allowing a reduction in total installed mining fleet by two 2500 excavators, one located at Rocglen and one located at Tarrawonga. As a result, haul truck numbers at each site will be reduced by four – a total of eight less trucks across the group. Approximately 30 permanent Whitehaven positions and 10 contractor roles will be made redundant as a result of the decision. The redundancies impact Whitehaven’s mine operations and maintenance staff, as well as contractors. 

Company Quote

0.09 +7.38%
19 Dec 2014