Xstrata Suspends Operations at Australian Coal Mine

Xstrata Plc, the world’s biggest exporter of coal used by power plants, suspended operations and cut 230 jobs at its Oaky Creek coking coal mine in Australia as demand slumps.“The suspension of long wall operations is in response to reduced market demand and sales for hard coking coal, resulting from the continuing global economic crisis and downturn in the steel and manufacturing industries,” the Zug, Switzerland-based company said today in an e-mailed statement.The Oaky Creek No. 1 mine, part of Xstrata’s Oaky Creek complex in central Queensland state, produced 6.2 million tons of coal in 2007, the company said. The Oaky mines produce more than 11 million tons a year, it said.“We remain committed to meeting our customer needs from stockpiles,” Ian Cribb, chief operating officer of Xstrata Coal Queensland, said in the statement.