Nov 18, 2019

Mastermyne wins $250m contract extension

Mastermyne wins $250m  contract extension

Mackay-based Mastermyne Group has secured a contract extension worth $250-$300 million to continue its work at Anglo American mines at Moranbah for the next three years.

The company today announced the renewal of the Moranbah Region Umbrella Contract, covering work at the Moranbah North and Grosvenor mines.

It includes an option to extend for a further two years at Anglo’s discretion.

“The company is very pleased to see the continuation of this long-term relationship, built with Anglo American over the past 17 years,” Mastermyne chief executive officer Tony Caruso said.

“Moranbah North and Grosvenor mines supply high-grade metallurgical coal to the international market for steel production, and we are pleased to support their successful operation.,

“The continuation of this contract reinforces Mastermyne’s strong standing and value proposition in the sector and demonstrates the robst outlook for metallurgical coal.”

It follows an announcement in August that Mastermyne Group had wopn a $95 million contract as part of Anglo American’s move to bring the Aquila coal mine online to extend the life of the Capcoal underground operations in Central Queensland.