Xstrata (XSRAF.PK, XSRAY.PK) will restructure its Australian operations and cut ~600 jobs as...

|About: Xstrata Plc (XSRAF)|By:, SA News Editor

Xstrata (XSRAF.PK, XSRAY.PK) will restructure its Australian operations and cut ~600 jobs as margins are squeezed by low coal prices, high costs and a strong Australian dollar. Australia's mining boom is losing momentum as demand weakens from China, and major cutbacks have been announced by other miners, including BHP, Rio Tinto and Fortescue Metals.