November 18, 2019 - Mastermyne Group has had its Moranbah Region Umbrella contract with Anglo American’s Metallurgical Coal division renewed for a three-year term, it said.

The contract extends the existing contract at Moranbah North and Grosvenor mines, in Queensland, Australia, and commences from November 15.

Mastermyne said the pact includes an option to extend for an additional two years at Anglo American’s discretion, with work under this contract estimated to contribute revenues of around A$250-$300 million ($170-204 million) over the three-year term.

The scope of work includes design, supply and installation, recovery and maintenance of ventilation structures and devices; installation of secondary support; outbye support and maintenance activities; conveyor belt installations and recovery; and development services.

Moranbah North is an underground longwall coking coal mine that began operating in 1998, while Grosvenor, also a longwall coking coal mine, produced its first longwall coal in May 2016.

Mastermyne said the revenue and earnings from the contract extension have been included in the company’s current 2020 financial year guidance.

Mastermyne CEO, Tony Caruso, said: “The company is very pleased to see the continuation of this long-term relationship, built with Anglo American over the past 17 years. Moranbah North and Grosvenor mines supply high-grade metallurgical coal to the international market for steel production, and we are pleased to support their successful operation.”