The decision to cut production targets could affect around 120 jobs at the company’s coal mines.
As part of the plan, the company will make changes in underground production, scale back open-pit mining activities and revise the product portfolio, to match current market demand.
"In addition to the direct operational changes we will defer some projects and ensure that inventory management and blending are optimized," the company said.
Glencore said it will continue to review its coal operations in the prevailing economic climate, and regulatory approvals for projects will be subject to final investment approval.
Last year, Glencore’s coal mines in Australia produced around 100 million tons.
The latest move comes after the company suspended coal production for three weeks in mid-December 2014, to tackle oversupply in market and reduce about five million tons output.
Image: Glencore Newlands coal complex in Australia. Photo: courtesy of Glencore.
