It will slow expansion of the Yarwun refinery and the production of bauxite by 23% to 15Mt.

"At current prices around 70% of the industry is currently operating at a financial loss," Rio Tinto said. The cuts are in addition to the 14000 job losses that Rio Tinto announced in January.

Rio Tinto will cut almost 600 roles at its plants near Gladstone, and 100 jobs at its Cape York bauxite refinery, both based in Queensland. Slowing growth from China and other importers of raw materials has hit commodity producers such as Rio Tinto.

Rio Tinto said in January it was postponing a $2.15bn expansion of its Brazilian iron ore mine