GLENCORE has announced plans to slash Australian coal production by 15 million tonnes this year.
It is understood that this will result in up to 120 job losses across all of its coal mines in Australia.
According to the miner this reduction will allow it to "more closely align our coal output with current customer demand".
Speaking to a Glencore spokesperson, they said that this is part of CEO Ivan Glasenberg's statements on the company's outlook, in which it is "not willing to cannabilise our revenues for volumes".
"We aren't going to push incremental tonnages."