* BHP to cut jobs in Melbourne HQ
* Cuts to be made gradually over "coming years"
(Adds details of job losses, BHP, analyst comment)
By James Regan
SYDNEY, July 28 (Reuters) - Global mining giant BHP Billiton
BHP.AX BLT.L intends to cut about 100 jobs at its Melbourne
headquarters in coming years as it strives to lower overheads
and streamline corporate operations amid a crash in minerals
prices.
BHP has reported double-digit price falls across all of its
main commodities in fiscal 2015, which analysts expect will lead
to a fall of around 40 percent in profit for the year.
The job cuts will gradually see the number of staff in
Melbourne drop to around 300 from 400 at present and a peak of
480, according to the company.
"We expect the number of employees in Melbourne to
potentially move to around 300 employees over the coming years,"
BHP said in a statement emailed to Reuters.
Sky News Australia had earlier reported that BHP planned to
cut 37 percent of the staff at headquarters.
Fiscal 2015 financial results released on Aug. 25 will
include more than $2 billion in impairments on BHP's U.S. shale
operations. Rig terminations will mean further losses to
underlying attributable profit of up to $100
million. ID:nL3N1025N9
The flagship iron ore division sold ore for an average of
just $61 a tonne in fiscal 2015, down from $103 a year earlier,
while the copper business is set to book up to $650 million in
impairments.
Overall, BHP is tipped to report pre-tax profit of $13.2
billion for the year to June 30, against $22.2 billion a year
earlier, according to Reuters I/B/E/S.
BHP is not the only resources company to tighten its belt.
Anglo American AAL.L is shedding 1,000 jobs by the end of
this year, then 1,500 by the end of 2016 and a further 3,000
later on. ID:nL5N1040T1
On Friday, Encana Corp ECA.TO , Canada's No.1 natural gas
producer, said it had laid off 200 employees. ID:nL3N1043YP
A survey released on Tuesday by Newport Consulting found 78
percent of mining executives intended to reduce capital spending
this year versus 44 percent last year.
"They are fighting back to remain competitive," David Hand,
the consultancy's managing director, said. "Some are reducing
the number of mines operating as they focus on becoming more
efficient and productive."
(Editing by Alan Raybould)