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Bhp Billiton To Cut 6,000 Jobs And Close Mine

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http://business.timesonline.co.uk/tol/busi...icle5557560.ece

BHP Billiton, the Anglo Australian mining giant, is to cut 6 per cent of its workforce, around 6,000 jobs, and close its giant Ravensthorpe nickel mine in Western Australia as falling demand for commodities erodes its earnings.

The Anglo-Australian miners' job losses include 3,400 jobs in Australia - mostly in coal and nickel production, 2,000 base metals jobs in Chile and 550 positions at the Pinto Valley copper mine.

Alex Vanselow, the chief financial officer of BHP Billiton, gave warning that more mines could close given the uncertainty in commodity markets, with the Australian metallurgical coal mines already slated to reduce output 10 to 15 percent.

"These are very serious types of decisions and we don't take them lightly, but at the end they are necessary and they are the correct decisions," he said.

Is there a commodity bubble looming on the horizon when there's a sudden scramble for resources again?

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Guest KingCharles1st

I was going to post this earlier but thought it must have already been posted a billion times.

A true reflection of where manufacturing is-

However-

We apparently NEED a third runway at Heathrow to cope with all the demand from rich Chinese manufacturing Oglirchs coming to England to spend billions of money

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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