Vale axes coal mining jobs

Vale has followed in the wake of BHP and Xstrata, and cut positions at its Australian coal operations.

While the miner has not slashed its workforce as drastically as BHP, which closed its Gregory Crinum open cut operations, or Xstrata which will cut around 600 positions, it has cut 20 employees, according to the SMH.

It comes just a day after the Queensland Government announced a hike in royalty rates, which many have labelled as "the final straw" for the coal mining industry.

This is likely to affect Vale's Carborough Downs coal mine near Moranbah.

Vale has also slowed its operations globally, announcing that it will delay projects in "the conceptual phase" of development due to the current economic climate, Foxbusiness reports.

It has already postponed its US$3 billion Kronau potash project in Canada.

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