Mining services companies face credit crunch: E&Y

CAPITAL intensive mining services companies carrying high debt have become vulnerable in the recent downturn in commodity prices as mining companies wind back the need for their services, according to research by Ernst & Young.

Mining services companies face credit crunch: E&Y Mining services companies face credit crunch: E&Y Mining services companies face credit crunch: E&Y Mining services companies face credit crunch: E&Y Mining services companies face credit crunch: E&Y

Ernst & Young partners Paul Murphy and Vince Smith, who have examined the 84 listed and 320 private companies, said the average gearing among these companies is 45 to 50% compared to large and

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