The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland File photo: Picture: REUTERS/ARND WIEGMANN
The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland File photo: Picture: REUTERS/ARND WIEGMANN

Glencore will cut about 30% of its workforce at its Hail Creek coal mine in Australia following a review of its operations.

The mine’s workforce will be reduced to 930 from 1,360, said Glencore, which bought the mine from Rio Tinto in March.

The miner, which began operational management of Hail Creek from August 1, said it would introduce a seven days on, seven days off roster system, meaning that employees at the mine would work seven days and take the next seven days off.

The company said it would reconfigure the mining methods it uses at Hail Creek and expects the process to be phased in over the next 18 months, with most of the changes expected to be in place by the second quarter of 2019.

Glencore is already the world’s biggest exporter of thermal coal used for power stations, and the Hail Creek acquisition gave it a bigger stake in metallurgical coal used for steel-making.

In 2017, the mine produced about 9.4-million tons of hard coking and thermal coal for export. Reuters