Treasurer Wayne Swan says the loss of jobs as the mining boom unwinds is a tragedy.
BHP Billiton, the world's largest mining company, on Wednesday unveiled a cut of 6,000 jobs, coal production reduction and the closure of the Ravensthorpe nickel mine.
Mr Swan told reporters in Sydney the loss of jobs was a tragedy.
''The loss of any job is always a serious concern, but the loss of so many jobs is, of course, a tragedy,'' Mr Swan said.
''What we are seeing today is a sober reminder of the unwinding of the mining boom, caused by the global financial crisis and in particular the slowing of the economy in China.''
Mr Swan said it had been ''fundamentally important'' for the Federal Government to provide its economic stimulus package to encourage Australian growth in what had become a global recession.
''In those circumstances the only responsible course of action is for the government to step in and support Australian business and support Australian jobs.
''Not to step in would have been utterly irresponsible.''
Mr Swan reiterated that Australia was not immune from the global economic crisis.
But he said no further stimulus action was required at present although the Federal Government stood ready to move if further action was required.
AAP
