BHP Billiton, the world’s biggest mining group, on Wednesday underlined the pain being felt by the industry when it said its would axe 6,000 employees and contractors from its global operations.

The Anglo-Australian group added it would shelve operations at its Ravensthorpe nickel mine in Western Australia and cut production at its Mount Keith nickel mine, also in Western Australia, as a result of the sharp fall in the price of the metal.