BC cut around 15-20% of its workforce in its Perth head office and 75%-owned Nullagine iron ore mine in the Pilbara.

A spokesman confirmed 10-15 full-time BC staff had been made redundant.

It comes after BC reduced its board size by three directors two weeks ago, with remaining directors agreeing to a 10% reduction in fees.

Other cost reduction measures include proactive assessment of the mine plan, the termination of a higher cost road haulage contract, termination of a number of consultancy contracts and the prudent management of all contractors and consultants.

The measures combined are expected to result in sustainable cost savings of $A2-3 per wet metric tonne.

The reduction has allowed BC to reduce its 2015 financial year C1 cost guidance to $47-51/wmt from $55-59/wmt.

The all-in cost guidance for Nullagine has been reduced to $54-61/wmt from $64-70/wmt.

The reduction exceeds the 5-10% reduction in all-in costs the company said it would target at its annual general meeting last month.

The current iron ore spot price of $US69.14/t for 62% fines equates to $A83.06/t due to the falling Australian dollar.

BC identified further cost-saving opportunities, including a potential decrease in near-term strip ratios and the tendering of a discrete mining contract for the Warrigal hub.

FY15 capital expenditure for Nullagine has also been cut, with BC’s share now expected to be $13-16 million, down $10 million on the original guidance of $23-26 million.

BC also reported a strong performance at Nullagine, which suffered a setback last quarter due to high clay content in the ore.

After making adjustments to operations, the operation ramped back up to 6 million tonnes per annum last month.

The company reaffirmed FY15 sales guidance of 5.2-5.6 million wet metric tonnes.

“We are pleased to report our mine at Nullagine is once again performing strongly and we are seeing the results of the operational initiatives that we have implemented in recent months,” BC managing director Morgan Ball said.

“We have had to make a number of tough business decisions recently, but our strong focus on reducing operating costs and capital expenditure is a critical part of managing our business in the current iron ore price environment.”

Fortescue Metals Group owns the other 25% of the Nullagine JV.

BC’s redundancies follow job cuts by FMG, Atlas Iron and Mount Gibson Iron this month.

Shares in BC were heavily traded and came off an earlier low of 36c to close 1.3% higher at 40c.