The company, which supplies and services dragline buckets, dragline rigging, ground-engaging tools (GET) and releted equipment, will be taking its success from its region of Queensland and more recent international success in India, China and South Africa and apply that to the South American market.

It also plans to expand its product range into buckets and wear parts for electric rope shovels and hydraulic excavators.

SIMCO's Martin Simpson said in the coming year it will be looking at ways to enter South America, including approaches like distributor networks and strategic partnerships.

"South America has always been on our radar, but to be successful we wanted to ensure we have a suite of wear parts products that are fit for purpose in the harsh conditions experienced in such countries as Chile and Peru," he said.

"South America's mining opportunities continue to attract international capital, which means that that continent will only increase as a mining destination in the coming years."

SIMCO, founded in 2010, recorded an achievement in 2013 with the delivery of the world's largest carrying capacity dragline bucket, with a payload exceeding 260 tonnes per swing, to Queensland's Curragh mine.