Around 40 to 50 workers will be laid off at the Toowoomba headquarters of Russell Mineral Equipment.
Managing director Dr John Russell explained to staff that 130 personnel would remain employed as the company took steps to remain a viable enterprise in the mining market.
“Since late 2014, a small number of significant capital equipment projects were unexpectedly suspended due to geopolitical complications, compounded by a recent fall in commodity prices, particularly copper,” he said.
“RME's executive management believe that this level of capital equipment market fragility is likely to continue for at least two years before the mining investment cycle returns to a longer term demand pattern.
“RME is doing all it can to support all employees; those who are unfortunately leaving us and those who are continuing on to further develop RME's future.”
RME performs onsite commissioning, training, maintenance and also produces a range of mining equipment.