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New Hope Corp. announces job cuts

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World Coal,

New Hope Corp. has become the latest Australian coal miner to cut jobs, after announced that 5% of its workforce would go.

Blaming the low coal prices and strong Australian dollar, the group’s CEO, Shane Stephan, said the company had been required to make some “difficult decisions […] to allow the company to endure this low point in the cycle”.

The job cuts would occur at the company’s West Moreton mine and head office operations. There would be no impact on production.

Source: New Hope Corp. Written by

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