BHP cuts another 170 iron ore jobs in Australia

|About: BHP Billiton Limited (BHP)|By:, SA News Editor

BHP Billiton (BHP) has cut another 170 jobs at its key Mt. Whaleback iron ore operation in the Pilbara region of Western Australia state, on top of 100 layoffs last week tied to iron ore production.

Spot iron ore prices are hovering just above two-year lows, eating into profits at BHP and rivals such as Rio Tinto (RIO) and Fortescue Metals (FSUMF) and prompting the mines closures, asset sales and job losses.

BHP is Australia's no. 2 exporter of iron ore, which accounts for a majority of its earnings.