Mastermyne Group is mobilising resources to start work under a $95 million contract for the Aquila project.

The Anglo American Board last month gave the go-ahead for the $415 million-plus Aquila coal project to extend the life of the Capcoal underground operations in Central Queensland.

Mastermyne chief executive officer Tony Caruso said the mothballed bord and pillar mine was being restarted as a longwall operation.

“The work that Mastermyne will be doing in the next two years is getting the mine ready for longwall production,” he said.

“What that involves is about 36km of undergound roadways and a lot of support work outbye to get the mine restored and conveyors installed and ventillation done as well….

“The project when it’s fully ramped up will employ 160 people (under the Mastermyne works). Mobilisation is underway as we speak.

“It will be in two stages – so the first development crew will start cutting in September and the second crew will be cutting in late October/early November.”

Mastermyne this week announced its full-year financial results, with highlights including an 18 per cent jump in revenue to $238 million last financial year, with net profit up 89 per cent to $10.6 mllion.

It also recently announced a deal to take over Wilson Mining Services.