Iron ore miner Grange Resources has warned of job losses as it races to cut costs to keep up with sliding commodity prices.
The company, which owns the Savage River iron ore mine in Tasmania, and operates a pellet manufacturing facility nearby, said it is working on an optimisation strategy to reduce costs and boost margins.
"Due to continued weakness in the iron ore price and subdued pellet demand, combined with the optimisation strategy, redundancies may be made," Grange said on Wednesday.
It expects to complete the review in early 2016.
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