Ausdrill, one of Australia's biggest mining services companies, has left investors in the dark about the circumstances that led to its slashing the value of a major contract with a Mineral Resources subsidiary.
Shares in Ausdrill went into free fall on Tuesday after it halved the value of what was previously touted as a $180 million contract with Process Minerals International for drill and blast work at the MinRes-owned Wodgina lithium project in the Pilbara.
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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
