Iron ore price drops and rising costs lead BHP to cut 300 jobs at its Western Australia mines

Jitong Finance APP has learned that on October 14, BHP (BHP.US) announced it will cut 300 jobs in its Western Australia iron ore operations to cope with the dual pressures of falling iron ore prices and rising freight and fuel costs. The layoffs will affect its South Flank, Mining Area C, Newman, and Jimblebar mines in the Pilbara region, which together employ about 16,000 people. The company stated that this move is to "ensure the ongoing significant contribution of its Western Australia iron ore operations."