The news is yet another devastating blow to Central Queensland coming hot on the heels of the announcement last week that BHP Mitsubishi Alliance (BMA) will be cutting 700 jobs from their CQ operations.
The announcement was made overnight by mine owners, Vale and Sumitomo who said in a statement that the mine would enter a ‘care and maintenance mode’.
“Vale announces that it is taking the necessary steps to place its Isaac Plains Coal Mine in Australia into care and maintenance, as the operation is not economically feasible under current market conditions,” the statement said.
According to the Daily Mercury, the mine employed 289 workers as of mid-2013.
Sumitomas has confirmed suggestions that Isaac Plains will go into standby mode by January 2015.
Source: Daily Mercury