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Mine contractor not talking on trading halt | The Australian

Mine contractor not talking on trading halt

Matt Chambers | April 25, 2009

Article from:  The Australian

CONTRACTOR Macmahon Holdings went into a trading halt yesterday, raising concerns it had lost another mining job as producers cut production and workers

Macmahon was silent yesterday and would not provide any information beyond a statement to the stock exchange.

“The trading halt is requested pending an announcement of the company outlook,” Macmahon said.

One analyst said while Macmahon’s construction business was going well, the mining side was under pressure.

“There is a lot of risk on their mining book and there is a good chance there has been a contract cancelled,” he said. “That has been the biggest area of growth with high margins, but it is pulling back.”

One contract he said was at risk was the underground mining work at BHP Billiton’s Olympic Dam copper, gold and uranium mine in South Australia.

A BHP spokesman would not comment late yesterday, saying only that the company did not make statements on individual contracts.

Mine contractor not talking on trading halt | The Australian

April 25, 2009 - Posted by Christina Macpherson | Uncategorized