Glencore Announces Shutdowns

GLENCORE which operates coal mines including Mangoola, Mount Owen, Ravensworth, Ulan, Integra, Bulga and Hunter Valley Operations has announced shutdowns this morning following major financial losses and lower demand for Australian coal.

Yesterday, Glencore reported a total comprehensive loss attributable to equity holders of $4.2billion.

The company has said the approach to manage production will be different at each site.

The Construction, Foresrty, Maritime, Mining and Energy Union (CFMEU) is working with Glencore and each mine site to protect permanent and contractor jobs including staff taking leave entitlements during the upcoming September school holidays.

Update: Glencore Explains Approach to Shutdowns.