The underground coal contractor’s recent contract wins with Peabody Energy and South32 have helped lift its equipment utilisation.

“We have seen significant growth in the business starting late in the first half and this has continued into the second half,” Mastermyne CEO Tony Caruso said. 

“We are well advanced mobilising the recent project wins as well as increasing our workforce numbers on our existing contracts.”

The company has been engaged by Peabody to undertake work that includes project management and supply of labour and equipment.

Contracted works will employ approximately 50 full-time personnel and is expected to be for a duration of approximately nine months. 

The company has also executed a contract with South 32 Illawarra Coal operations for scaffolding services over a three-year period. 

The company said the contract won by its Mastertec subsidiary expanded the geographical footprint for this division and provided the base for further expansion of these services into New South Wales.

Mastermyne has also extended an Anglo American umbrella contract by 12 months and increased the scope of works as well as extending a Rio Tinto Kestrel development contract by 12 months.

It now has two continuous miners committed to projects with a third in the pipeline.

The first continuous miner deployed to an underground operation in NSW and started its hire from early April. 

The company has also deployed a material portion of its remaining underground fleet to existing projects taking the overall utilisation of the equipment fleet to more than 80%.