Not nice if you're employed as casual with no annual leave. With world prices collapsing and nobody wanting it much anymore, Glencore mining has told it's workers to take leave whilst they stop production. Not looking good for Australian coal.
MORE than 8,000 Glencore coal workers will be forced to take annual leave as the mining giant shuts down its Australian coal operations due to an oversupply of the commodity.
GLENCORE will shut down all of its 20 coal mines across NSW and Queensland from mid-December, cutting production by five million tonnes.
Annual leave will be imposed on employees over the Christmas period, and leave will be brought forward for those employees who have low holiday balances.
Hundreds of employees who conduct critical maintenance will be unaffected by the shutdown.
Glencore said the move was driven by the current oversupply of coal, which has hurt prices.
"This is a considered management decision given the current oversupply situation and reduces the need to push incremental sales into an already weak pricing environment," it said in a statement.
All of the commodity giant's coal operations remain under review after two years of cost cutting. more
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