Movement Alert｜BHP Billiton Falls 3.17% in Pre-Market Trading, Australia Iron Ore Unit Plans 300 Job Cuts

Market Focus10-15

On October 15, BHP Billiton fell 3.17% in Pre-Market Trading, trading at $80.65 per share, with turnover of $135.4 thousand.

The move followed reports that the company plans to cut 300 jobs across four iron ore mines in Western Australia’s Pilbara region, as lower iron ore prices and rising costs pressure profitability.

The planned reductions affect South Flank, Mining Area C, Newman and Jimblebar, which together employ about 16,000 workers. The company said it would explore other job opportunities for affected employees. Recent wage negotiations at Port Hedland had also stalled, underscoring ongoing labor-cost pressure across its Australian iron ore operations.

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