Mastermyne Group (ASX:MYE) has executed a new mining services contract with GMT Mining for the restart and ongoing operation of Tahmoor mine in the Illawarra region of New South Wales.
The contract includes an initial two-year term, generating gross revenues of approximately $80 million, plus two additional two-year extension options.
If exercised, the extensions would take total gross revenues over the full six-year contract term to approximately $240 million.
Tahmoor Mine was acquired by a consortium comprising M Group, Mastermyne’s largest shareholder, and Golden Energy and Resources (GEAR).
The metallurgical coal mine will be operated by GM3, which also owns and operates the nearby Appin and Dendrobium mines in the Illawarra region.
The new contract will create more than 160 roles and adds to Mastermyne’s existing portfolio of long-term contracts, including GM3’s Appin contract which commenced in May 2025 and its Dendrobium contract which commenced last month.
Following mobilisation of this contract, Mastermyne’s total workforce is expected to exceed 1,000 people, with more than 500 roles across three mine projects in the Illawarra region.
CEO Jeff Whiteman says the company is excited to further build on its existing partnership with GM3.
“We are excited by this opportunity to further build on our existing partnership with GM3, increasing our total workforce in the Illawarra region to well over 500 roles across three leading mine projects: Appin, Dendrobium, and now Tahmoor,” Whiteman states.
“It is also pleasing to see Tahmoor mine progressing towards the restart of operations, which will bring significant benefits for the local community and workers.”
Founded in 1996, Mastermyne specialises in underground mining solutions, including strata consolidation, development, longwall, and outbye support; technical services; and products across New South Wales and Queensland coal basins.
Write to JC Villarba at Mining.com.au
Images: Mastermyne Group
