Newcrest is working on the first stage of an expansion project at Cadia to develop the next cave and boost nameplate capacity of the process plant to 33 million tonnes per annum.
Under the scope of the contract Matrix will develop a composite replacement for steel components used by Newcrest in block caving operations, utilising advanced materials technology.
Product development works will start immediately and wind up in October.
If Newcrest is happy with the prototype Matrix will manufacture a full-scale product at its facility south of Perth in Henderson, Western Australia.
Matrix CEO Aaron Begley said the advanced composite solution had applications for other companies in the mining sector.
"We are pleased to be working with Newcrest and look forward to delivering on this project to replace steel with an innovative composite product that will introduce new technology to make the block caving process safer and more efficient," he said.
"While the scope of this contract for product development is modest, it demonstrates further progress in our strategic pivot from targeting greenfields capital expenditure work to locally-based brownfields operational expenditure in the oil and gas and resources sectors."
Begley said successful delivery of the project could unlock larger scale contracts with Newcrest and other blue-chip resources companies.