Australia-based miner Rio Tinto will cut jobs at its Australian iron ore business “following a restructuring of the global giant's most profitable sector”, according to a Reuters report.
While it is not clear how many people will be laid off, a company spokesman said that “the move was part of a wider review to streamline the company as it braces for continued volatility in minerals commodities markets”, Reuters reported.
Last week around 440 workers and contractors at one of Rio's Pilbara mines were notified that there would be a two-week shutdown over Christmas.