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Layne minerals contracts in Q2

NASDAQ-listed drilling contractor Layne Christensen (LAYN) has reported further year-on-year contraction in its mineral drilling business in the latest quarter and half-year to July 31 as it business focus switches to the Americas from a previous global profile.

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The company, which pulled out of Africa and Australia last year to concentrate on North America, Mexico and Latin America, has seen its mineral services division shrink while larger exposures to