BOART Longyear has reported 55% of its rigs are in use at mine sites around the world compared to the typical usage of 85%.
The mining driller blames the dramatic downturn in the minerals sector and says it is unsure when a recovery will occur.
However, the company’s Chief Executive claims Australia has been one of the better-performing regions in February 2009 with the market dominated by contracts with major miners BHP Billiton, Rio Tinto and Xstrata.
It has lost more business in Canada, which has a larger junior mining sector.
Boart Lonyear says it has lost more business in Canada, which has a larger junior mining sector.
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