Fortescue Metals has announced changes to its roster to get more work out of its miners as it seeks to slash costs to cope with plunging prices.
The world's fourth-largest iron ore producer is changing to a two-week on, one-week off roster from a current schedule of eight days on, six days off in its remote mines in Western Australia's Pilbara region.
Fortescue said in a statement that the move would bring it into line with standard rosters worked in the industry.
"While we would prefer not to have to change what has been a successful and differentiating roster for Fortescue, we are taking steps in response to the threat of oversupply in the market over the medium term," the company's, chief executive, Nev Power, said.
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"In this environment, bringing our costs down rapidly and sustainably is critical and will place our company in the strongest possible position for the future."
Reuters
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