Australia's Mastermyne Secures $255 Million, Six-Year Dendrobium Coal Mine Contract with GM3, Commencing September 2026

en.Wedoany.com Reported - Mastermyne Group Ltd. has announced the signing of a new mining services contract with GM3 to provide services at GM3's Dendrobium underground coal mine in New South Wales. The contract has an initial term of two years, with two additional two-year extension options, and work is scheduled to commence in September 2026.

GM3 is a metallurgical coal-focused joint venture established by Golden Energy and Resources (GEAR) and M Group, Mastermyne's largest shareholder. Total revenue over the initial two-year period is estimated at approximately $85 million; if both extension options are exercised, total estimated revenue over the six-year contract term would be approximately $255 million.

Mastermyne Managing Director and Chief Executive Officer Jeff Whiteman stated that the company is deepening its existing partnership with GM3 and expanding its scope of services at the Dendrobium mine. Existing services at the mine include strata reinforcement and project engineering, and the new contract will add more than 140 positions on top of these. Whiteman also noted that the two parties had previously signed a mining services contract covering approximately 220 positions at GM3's nearby Appin mine, which commenced in mid-2025. He added that the company is entering fiscal year 2027 with strong momentum and confidence, and believes there are further opportunities to expand its business at the Dendrobium mine.