FIVE years ago, the rising costs of contractors supplying specialist services such as exploration drill rigs and shaft sinking was a serious headache for mining companies. Now conditions have moved full circle; it is the mining contractors who are complaining as contracts are cancelled and their machinery lies idle.In financial reports from JSE-listed Sentula Mining and London-listed Shaft Sinkers Holdings on Thursday, both companies described a difficult operating environment and an uncertain outlook. Sentula CEO Robin Berry said there was contract work available, but not necessarily at attractive rates.Shaft Sinkers CEO Alon Davidov said a number of the group’s projects in South Africa were hit by uncertain market conditions, including the curtailment of the Moab project by Anglo-Gold Ashanti, Hernic Ferrochrome’s decision not to proceed with the Bokfontein project, and Impala Platinum’s decision not to continue with development work on the 17 Fridge shaft, although Shaft Sinkers ...
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