Mining contractors flag lower earnings

A SLOWDOWN in the mining services sector has prompted drilling equipment provider Boart Longyear and contractor Transfield Services to cut earnings forecasts and confirm job losses.

Mining contractors flag lower earnings Mining contractors flag lower earnings Mining contractors flag lower earnings Mining contractors flag lower earnings Mining contractors flag lower earnings

US-based Boart, which has shed 1000 employees since January, blamed the downward trend in commodity prices and a reduction in exploration expenditure.