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Mastermyne wins new contract

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World Coal,

Australian mining contractor, Mastermyne, has won a contract for underground roadway development from a major global mining company, it said in a press release. The initial term of the contract is two years with an option to extend for an additional year.

According to the company, the contract value is variable depending on the provided resourcing with Mastermyne expecting to generate revenue of approximately AUS$10 – AUS$12 million per year for the duration of the contract.

“We are very pleased with this result and look forward to continuing our strong working relationship with global mining companies in the regions,” said Mastermyne CEO, Tony Caruso.

Under the terms of the contract, Mastermyne will perform the construction of underground roadways for mine infrastructure – both in-seam and out of seam. The contract began in August 2015 and will employ about 50 full-time personnel. Mastermyne will also supply equipment as part of the contract.

“The awarding of this major tender reinforces Mastermyne’s strong value proposition and supports the integral role contracting organizations will play in maintaining a globally competitive coal sector,” continued Caruso. “The company’s pipeline remains strong and with our track record in the coal sector, we are looking forward to building on this success with further contract wins.”

Established in 1996 and based in Mackay, Queensland, Mastermyne Group is a specialist provider of services to the Australian coal mining industry. The ASX-listed company comprises two operating divisions: Mastermyne Mining, which provides underground roadway development, installation of conveyors and longwall relocations, and Mastertec Products and Services, which provides maintenance, fabrication and machining, and technical and engineering services.

The company operates in Queensland’s Bowen Basin, as well as the Illawarra and Hunter Valley regions of New South Wales. It recently announces revenues of AU$$174 million for the financial year ending June 2015, a rise of 1.3% on the previous year.

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