PRESS RELEASE: The Isaac Plains coal mine is in the Bowen Basin region of Queensland, Australia.
The ECI process will see Mastermyne working with Stanmore Coal to undertake a bankable feasability study which will focus on developing a high productivity mining operation utilising continuous miners, shuttle cars and mobile bolters. The feasibility study is expected to take 26 weeks.
On completion of the feasibility study, and subject to final board approval, it is Stanmore's stated preference to sole source the underground mining contract services and equipment from Mastermyne provided that suitable commercial terms can be reached.
Tony Caruso, CEO of Mastermyne, said: "We are vevry pleased to have secured this contract and we are looking forward to working with Stanmore Coal and the Isaac Plains underground team. Whilst the study itself wil not have a material impact on Mastermyne Group's turnover, the award of the ECI contract is an important step in realising the company's strategy for whole-of-mine operations. We look forward to completing the study and seeing the mine move into production."