Mastermyne secures mining contract valued up to $240M

• Mastermyne Group signed a new mining services deal for the Tahmoor mine in New South Wales valued at up to $240 million over six years.
• The initial two-year term delivers approximately $80 million in gross revenue and will expand the total company headcount past 1,000.
• The agreement expands existing relationships across three key mine sites operated by GM³ in the Illawarra region.

Mastermyne (ASX:MYE) executed a mining services agreement with GMT Mining that generates up to $240 million in revenue across a potential six-year term.

The contract provides an initial two-year commitment worth approximately $80 million, expanding on recent contracts signed for the Appin and Dendrobium operations.

"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," said Mastermyne Managing Director & CEO Jeff Whiteman.

The transaction adds around 160 roles for the restart and operation of the metallurgical coal mine.

Following the announcement, the Mastermyne share price was unchanged at $0.76.

The agreement covers the restart of the Tahmoor mine following its acquisition by a consortium comprising M Group and Golden Energy and Resources.

Mastermyne operates across major coal basins in New South Wales and Queensland through its core underground mining and Wilson Mining brands.