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Contractors still don't see the bottom

If there is a definitive marker for how far the tide has gone out since the boom mining investment years for the world’s top contract miners and drillers, it is surely the US$722 million combined market value of Australia’s 12 listed companies beneath industry major CIMIC Group, and nearest rival Downer EDI, in a list of the country’s sector leaders.

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Lower expectations … little turnaround as yet in investor sentiment around contract miners and drillers

This is a register that includes former $1 billion-market-cap companies such as Boart Longyear, Ausdrill and Macmahon Holdings, and a number of others multiples higher in value back in the day.