ASX-listed underground coal contractor Mastermyne will be involved in the restart of controlling shareholder M Group’s part-owned Tahmoor colliery in the New South Wales Illawarra district after picking up a contract that could be worth up to A$240 million over six years.
Mastermyne won an initial two-year deal at Tahmoor, owned 30% by M Group and 70% by Golden Energy and Resources (GEAR), controlled by Indonesia’s Widjaja family.
M Group and GEAR, under the GM3 joint venture, bought Tahmoor out of liquidation earlier this year. GM3 also operates the Dendrobium and Appin mines near Wollongong.
Mastermyne has mining contracts at both.
“This latest contract, involving more than 160 new roles, adds to Mastermyne’s existing portfolio of long-term contracts, including GM3’s Appin contract which commenced in May 2025 and its Dendrobium contract which commenced last month,” the contractor said.
“Post mobilisation of this contract Mastermyne’s total workforce is expected to exceed 1000 people.”
Mastermyne’s share price has climbed about 450% in 2026, capitalising the company at c$240 million.
