Mastermyne Group Ltd (ASX:MYE, FRA:024) has secured a new mining services contract at the Dendrobium underground metallurgical coal mine in New South Wales, potentially generating about A$255 million in gross revenue over six years.
The contract with GM3 has an initial two-year term, expected to deliver around A$85 million in revenue, together with two optional two-year extensions.
Work is scheduled to begin in September 2026 and will create more than 140 new roles, substantially expanding Mastermyne’s existing operations at Dendrobium.
Expands Dendrobium operations
Mastermyne currently provides strata consolidation and project services at Dendrobium, with the latest award broadening the range of underground mining services delivered at the operation.
The company said it also saw further opportunities to increase its footprint at the mine.
GM3 is a metallurgical coal-focused joint venture between Golden Energy and Resources and M Group, Mastermyne’s largest shareholder.
Mastermyne managing director and CEO Jeff Whiteman said the contract built on the company’s existing partnership with GM3.
“We are excited to build on our existing partnership with GM3, expanding the range of services that we deliver at Dendrobium mine,” he said.
The award is in addition to Mastermyne’s mining services contract at GM3’s nearby Appin mine, which involves about 220 roles and commenced in mid-2025.
Strong momentum heading into FY27
Whiteman said Mastermyne was entering the 2027 financial year with considerable momentum and confidence, supported by a strong order book and pipeline.
“The company’s order book and pipeline of opportunities remains strong, underpinned by sustained demand for specialist underground coal mining services throughout the East Coast coal basins,” he said.
The Dendrobium award strengthens Mastermyne’s position across the major coal-producing regions of New South Wales and Queensland and adds a substantial source of contracted revenue from September.
About Mastermyne
Founded in 1996, Mastermyne specialises in underground mining solutions, including strata consolidation, mine development, longwall and outbye support, technical services and mining products.
The company operates under the Mastermyne and Wilson Mining brands and has coverage across the three major coal basins in New South Wales and Queensland.