The company is looking to redeploy several of its employees, either across its iron ore segment or to other operations, following a review of the division against the current market conditions.

BHP Billiton spokesman Antonios Papaspiropoulos said that of the 900 open positions across the affected business, the number of jobs to be cut is yet undetermined; this is expected to be ascertained once the redeployment is completed.

"We don’t intend to provide any detail about specific adjustments, but clearly there may be some impact on jobs in some areas," added Papaspiropoulos.

This contraction comes soon after the company halted plans to construct a coking coal mine worth $3bn in Queensland with Iron ore from the Pilbara region of Western Australia being one of the biggest revenue generator for the Anglo-Australian company.