(Bloomberg) -- Coal & Allied Industries Ltd., an Australian thermal coal producer controlled by Rio Tinto Group, will cut production by 20 percent this year because of reduced port and rail export capacity.
The company will cut 250 contractor jobs after Newcastle Port cut the share of capacity it allocates to Coal & Allied, the Brisbane-based company said today in a statement. Thermal coal is used in power stations.
Read more at Bloomberg Commodities News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment