Industry funds Mine Super and TWUSUPER have entered a preliminary non-binding Memorandum of Understanding to explore the possibility of merging. 

If the two funds merge, the new entity would have a combined fund of nearly $20 billion for over 150,000 members. 

TWUSUPER represents the transport industry, while Mine Super was established from a merger between the Coalsuper Retirement Income Fund and the Queensland Coal and Oil Shale Mining Industry Superannuation Fund. Prior to 1 July 2015, Mine Super was known as AUSCOAL Super.