en.Wedoany.com Reported - Australian underground mining services provider Mastermyne signed a mining services contract with GM3 on August 5, 2026, for the Dendrobium underground metallurgical coal mine. The project is located in New South Wales, Australia, with an initial contract term of two years and expected revenue of approximately A$85 million. On-site operations are scheduled to commence in September 2026.

The contract includes two extension options of two years each, with execution at GM3's discretion. If both extensions are fully exercised, the service period would increase to six years, with Mastermyne expecting cumulative revenue of up to approximately A$255 million. Therefore, the A$255 million figure represents the potential total revenue including optional extensions, not the locked-in initial contract amount.

Mastermyne currently provides strata reinforcement and project services at the Dendrobium coal mine. The new contract will expand the scope of services on top of existing operations, with an expected addition of over 140 new positions. The company's announcement did not disclose specific mining volumes, coal production targets, or equipment investment scale.

Dendrobium is an underground metallurgical coal mine operated by GM3. GM3 is a joint venture established by Golden Energy and Resources and M Group, with M Group also being Mastermyne's largest shareholder. GM3 completed the acquisition of South32's Illawarra metallurgical coal business in 2024, with the related assets including the Dendrobium and Appin coal mines.

Mastermyne also undertakes mining services work at GM3's Appin coal mine, with that contract commencing in mid-2025 and involving approximately 220 positions. With the addition of the Dendrobium project, the company's total positions across the two GM3 mine contracts will exceed 360, though revenue for the subsequent four years remains contingent on whether GM3 exercises the extension options.