A casualty of sharp capital expenditure cutbacks by mining operations, Australian contractor...

|By:, SA News Editor

A casualty of sharp capital expenditure cutbacks by mining operations, Australian contractor Macmahon Holdings plummets 38% in Sydney amidst a warning of a sharp drop in profits and the resignation of its CEO. Meanwhile, mining boom "exhibit A" Fortescue continues a massive 2-day rally on the heels of a deal to restructure its balance sheet without a dilutive capital raise.