Boart Unable to Forecast Earnings as Miners Halt Investments
This article is for subscribers only.
Boart Longyear Ltd., the world’s biggest provider of mineral-drilling services, said it’s unable to say if earnings will decline next year as mining companies halt investments amid slowing economic growth.
“I’m not sure mining companies know what the demand is going to be next year, so it’s very hard for me to put those numbers for the investors,” Chief Executive Officer Craig Kipp said in a Bloomberg Television interview with Rishaad Salamat. “There’s just a little bit too much uncertainty.”