Newcrest to slash Telfer gold mine jobs

Aussie gold miner Newcrest will begin cutting jobs at its Telfer gold mine in the Pilbara, Western Australia.

The plummeting gold price and higher operations costs have squeezed margins and led to the cost cutting measure, though the miner has not yet confirmed the exact number of terminations.

Newcrest employs 1200 people at the Telfer site, and has a global workforce of roughly 16,000.

For the 2013 financial year, Telfer produced 525,500 ounces of gold and 26,453 tonnes of copper.

Newcrest is one of the world’s largest gold mining companies and operates mines in four countries.