Metarock Group (ASX:MYE) has announced a cessation of services at Cook Colliery.

The company has stated that MasterMyne (CC) Operations has ceased provision of contract services at the colliery as well.

This cessation of services will result in a A$10 million net profit impact for Metarock, which will be recognized in the 2023 fiscal year.

The associated cash flow impact will occur in the first quarter of the current financial year.

Metarock Group is a mining services provider predominantly operating in the coal industry.