UNDERGROUND

Mastermyne to restart development contract with South32

The restarted contract scope is for the provision of mine roadway development services.

Mastermyne employee operating underground.

Mastermyne employee operating underground.

The restarted contract scope is for the provision of mine roadway development services, which is expected to deliver Mastermyne annual revenues of about $18 million.
 
Mastermyne CEO Tony Caruso said the two-year contract term would be delivered as a variation under the Mastermyne's existing contract with South32.
 
"We are very pleased to have recommenced work on this project and further extend our working relationship with South32's Illawarra Metallurgical Coal operations," he said. 
 
"We look forward to delivering safe and productive outcomes for South32 and providing long-term stable work for our employees."
 
The additional revenue generated through this contract secures the upper end of Mastermyne's recent FY19 guidance range. 
 
Caruso said the company would update guidance over the course of the financial year as further opportunities were converted from its record pipeline. 

 

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