Mackay contractor rebound
Even before the Adani announcement Mackay business putting people on
Wednesday 07 June 2017
Mackay based Mastermyne Group is continuing its recruitment drive as it continues to expand existing work contracts and sign new ones in the resurgent coal mining sector.
Most recently, Mastermyne has entered into a contract with Peabody to supply labour and project management to their Bowen Basin mining operations, which Mastermyne expects will generate around 50 jobs for at least nine months.
The company also says around 80% of its underground mining fleet is now working, following recent contracts for the deployment of two continuous miners.
Since February they have also extended existing contracts with Anglo American near Moranbah, Rio Tinto at the Kestrel mine near Emerald, and at the Dalrymple Bay Coal terminal.
Mastermyne CEO, Tony Caruso, said they had seen significant growth in the business from midway last year.
“We are well advanced mobilising the recent project wins as well as increasing our workforce numbers on our existing contracts,” he said.
“Our employee numbers are expected to exceed 800 full-time staff by the end of the financial year, and the utilisation of our mining fleet is returning to historical levels.
In February, Mastermyne reported a tumultuous end to the second half of 2016 with losses of $1.5 million, but a 100% increase in orders.
Revenue in the last six months of 2016 was down nearly 43%, and the number of employees fell to a low of 534 as contracts concluded without any new work starting.
The situation forced Mastermyne to rethink its business model, and as a consequence, it jettisoned what it called some non-core underperforming Mastertec business units, particularly in the fabrication area.
Mastertec was set up in 2015 following the purchase of Gladstone maintenance business DMS for $20 million.