Short answer is: probably not.
I would start with replacing the outlet and the breaker and checking all the connections, especially the neutral bus in the panel. They are usually made of aluminum and tend to loosen up over time. This would be easy and cheap, and might solve the problem.
840 feet of #12 is only 1.33 ohms. He would have to be pulling close to 20 amps to drop that much voltage across the conductors. The problem is much more likely to be a loose, dirty, or corroded connection somewhere. Sometimes in a factory, breakers get used like light switches and that leads to failure.
Another thing to consider would be pulling new wire into the existing conduit, if the conduit size allows. If you could replace the #12 with #10 even just part of the way to a junction box it would help, especially if there are a lot of branch circuits. And of course, if there are a lot of branch circuits, those wire nuts could be a problem as well.