The drought-afflicted town of Cobar in western New South Wales is reeling after learning 130 jobs would be cut from its local mine.The company announced the sweeping restructure to bring the underground lead and zinc mine in line with its plans to cut production.
The news follows six months of ongoing cash losses for the mining company, as the main orebody at its Endeavour Mine comes to end of its reserve. In November, the mine terminated the employment of 40 contractors from civil construction company McMahons in an effort to stem losses. The mine had been the biggest employer in the town of almost 4,000 people, which is also enduring severe drought conditions.CBH Resources cut about 80 per centAt the time, company director Visko Sulicich said the plan was to reverse the cuts when market conditions improved.
Ah the good ol' sustainability of mining jobs for rural communities..
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