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- Mastermyne Group (MYE) has helped Sojitz Blue re-enter the underground mine at Gregory Crinum in Queensland
- Last year, Sojitz purchased the Gregory Crinum metallurgical coal mine from BMA
- Now, the corporation wants to reopen the previously sealed Crinum underground mining area
- Mastermyne was appointed to undertake the feasibility study as mining operator
- In late October, Gregory Crinum was successfully re-entered with no major issues encountered
- Mastermyne will continue to be Mine Operator while Sojitz finalises its potential decision to sign Mastermyne as an underground mining contractor
- On market close, Mastermyne is down 5.48 per cent, trading for 69 cents per share
Mastermyne Group (MYE) has helped Sojitz Blue take the next step to reopen the underground mine at Gregory Crinum in Queensland.
Last year, Sojitz purchased the Gregory Crinum metallurgical coal mine from BMA. and the corporation is currently investigating the viability of reopening the previously sealed Crinum underground mining area.
Sojitz appointed Mastermyne to undertake a feasibility study focusing on the development of a high productivity bord and pillar mining operation. Additionally, Mastermyne was also appointed as mine operator to undertake the re-entry process.
In late October, in conjunction with Queensland Mines Rescue, Gregory Crinum was successfully re-entered, with no major issues encountered.
Mastermyne will continue in its role as mine operator while Sojitz finalises its potential decision to sign Mastermyne as an underground mining contractor.
“The re-entry of the underground workings and appointment as the mine operator are very significant milestones for Mastermyne’s business growth strategy,” Mastermyne CEO Tony Caruso said.
“We are very pleased to be working with Sojitz and we look forward to the mine moving into production,” he added.
On market close, Mastermyne is down 5.48 per cent, trading for 69 cents per share.
