Title : Mining jobs slashed in drought-stricken NSW town
link : Mining jobs slashed in drought-stricken NSW town
Mining jobs slashed in drought-stricken NSW town
The drought-afflicted town of Cobar in western New South Wales is reeling after learning 130 jobs would be cut from its local mine.
CBH Resources said it would reduce 161 full-time employees, plus 40 contractors, to just 71 people.
The company announced the sweeping restructure to bring the underground lead and zinc mine in line with its plans to cut production.
The news follows six months of ongoing cash losses for the mining company, as the main orebody at its Endeavour Mine comes to end of its reserve.
In November, the mine terminated the employment of 40 contractors from civil construction company McMahons in an effort to stem losses.
The mine had been the biggest employer in the town of almost 4,000 people, which is also enduring severe drought conditions.
It is the second time in three years major job losses have been felt at Endeavour Mine.
In 2016, CBH Resources cut about 80 per cent of its workforce and dramatically reduced its output amid historically low commodity prices.
At the time, company director Visko Sulicich said the plan was to reverse the cuts when market conditions improved.
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