Anglo American PLC (AAL.L) announced on Thursday a reduction in workforce at its Brisbane office and nearby coal mines in Queensland, Australia, as part of its strategy to streamline operations and address the dual pressures of declining coal prices and escalating costs. The exact number of job cuts remains undisclosed, but the move follows a similar decision by BHP Group Ltd (BHP.AX), which recently eliminated 750 positions at a coking coal mine in the same region due to unfavorable market conditions and increased state royalties. Ben Mansour, Vice President for People and Corporate Relations at Anglo American Australia, emphasized that these adjustments are crucial for the sustainability of the company’s steelmaking coal operations in Central Queensland. He noted that the majority of the reductions were achieved through voluntary redundancies. According to Australia’s ABC News, citing the Isaac Regional Council, approximately 200 positions at Anglo American were impacted. The company operates five coal mines in Queensland’s Bowen Basin, which specialize in steelmaking coal. Last year, Anglo American divested a 33% stake in one of its Australian steelmaking coal mines for $1.1 billion to concentrate on its core copper assets. This announcement comes on the heels of a proposed merger with Canada’s Teck Resources Ltd (TECKb.TO), potentially marking the second-largest mining deal in history. The developments underscore the ongoing challenges faced by the coal industry amidst shifting market dynamics and regulatory pressures.