BHP Billiton cuts jobs down under

BHP Billiton warned yesterday of job losses as rising costs and falling commodity prices continued to bite. It is understood that jobs will be cut from its Australian coal mines. It follows job cuts from fellow miners Xstrata and Rio Tinto. The prospect of job cuts raises doubts about the strength of Australia's mining boom, which has previously been dependent on China importing millions of tonnes of base metals a year for the past decade.