May 10 (Bloomberg) -- A subsidiary of Rio Tinto Group said it will cut at least 70 jobs in Mozambique this year after booking an operational loss in the nation last year.
The planned redundancies include 50 local posts and 20 expatriate roles covering mining support to operations such as exploration and research, Rio Tinto Coal Mozambique said yesterday in an e-mailed statement.
“Due to low prices of commodities in the global market and the constraints created by the infrastructure and transport logistics of coal, Rio Tinto Coal Mozambique (RTCM) incurred losses in its operations in 2012,” the statement showed. “The company is taking the necessary steps to ensure that the business become profitable by the end of 2013.”
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