Mastermyne Group (ASX:MYE) has secured a two-year mining services contract at the Dendrobium underground coal mine in New South Wales, expected to generate about $85 million in gross revenue.
The agreement with GM³ includes two additional two-year extension options. If both are exercised, Mastermyne estimates the contract would generate about $255 million over six years.
Work is scheduled to begin in September 2026 and will create more than 140 roles.
The contract expands Mastermyne’s existing services at Dendrobium, which comprise strata consolidation and project work.
GM³ is a metallurgical coal-focused joint venture between Golden Energy and Resources and M Group, Mastermyne’s largest shareholder.
CEO Jeff Whiteman says the contract builds on the companies’ existing relationship.
“We are excited to build on our existing partnership with GM³, expanding the range of services that we deliver at Dendrobium mine, which is in addition to our mining services contract encompassing approximately 220 roles at GM³’s nearby Appin mine that commenced mid-2025,” Whiteman says.
Mastermyne says it sees further opportunities to expand its operations at Dendrobium.
The company provides underground mining services spanning strata consolidation, mine development, longwall and outbye support, technical services, and products. It operates under the Mastermyne and Wilson Mining brands across the major coal basins of New South Wales and Queensland.
Write to France Pinzon at Mining.com.au
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