Glencore, owner of Ulan Mine, is set to permanently cut production from its Australian coal mines in a move that could jeopardise local jobs.
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After closing its mines for three weeks over the Christmas period, Glencore said today it would reduce coal production in Australia by 15 million tonnes in 2015.
That could represent a cut of more than 20 per cent from its total production in Australia.
Glencore produced 60 million tonnes of thermal coal in Australia during 2014, and about 9.5 million tonnes of coking coal during the same year.
In a statement, Glencore said the cuts would "more closely align" its coal output with customer demand levels, and could see some expansion projects slowed.
"We will defer some projects and ensure that inventory management and blending are optimised," the miner said in a statement.
