JOHANNESBURG (miningweekly.com) – Mining contractor Macmahon Holdings on Monday announced that it expected to impair the carrying value of equipment and inventory held on June 30, 2015, by between $95-million and $125-million.
This impairment would be in addition to the $130-million recorded in the company’s half-year financial results.
“The decision to make this impairment follows the cumulative effect of continued challenging market conditions for the mining services sector and low demand and market prices for used mining equipment and inventory,” the ASX-listed company reported.
Macmahon said it would provide further details about the impairment in its 2015 financial year-end results.