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BHP Billiton to cut 380 jobs at Australia's Olympic Dam

A promotional sign adorns a stage at a BHP Billiton function in central Sydney August 20, 2013. REUTERS/David Gray

SYDNEY (Reuters) - BHP Billiton (BLT.L) (BHP.AX) said on Sunday it would cut 380 jobs at its Olympic Dam copper and uranium mine in Australia, citing global market conditions in the resources sector and a desire to ensure the project was sustainable.

The decision was “driven by the global challenges in the resources sector, and the need to transform Olympic Dam into a sustainable operation," Jacqui McGill, president of the miner's Olympic Dam Asset operation, said in a statement

Located in South Australia, Olympic Dam produces copper, uranium and smaller amounts of silver and gold.

A company spokeswoman said the decision followed a review of operations which has just been completed. The 380 job losses follow earlier announced cuts of around 140 mainly administrative positions and will eventually bring the operation's staff to around 3,500, down from an earlier figure of around 4,000.

Most of the roles affected in the latest cuts are on site at Olympic Dam and the company said some employees may be offered new positions. Final implementation of the operational review is expected by around mid-September, the company said.

(Reporting by Chris McCall; Editing by Lincoln Feast)