The company estimated there would be 47 underground coal mines in Australia by 2016 and said it had secured a workbook of $276 million over the next three years.

Delta SBD expects its workbook to continue to grow and has a targeted pipeline of $410 million, $70 million of which has been shortlisted.

“Approvals of new underground projects and expansion of existing mines are increasing the size of the sector,” the company said.

“With improving demand and stable prices, the coal industry forecast looks positive.

“Structural changes in global coal markets and the cyclical rebound in global growth is driving increasing demand for thermal and metallurgical coal.

“For Australia this bodes well in terms of increasing production and expansion projects which should provide a continuing set of business opportunities for Delta SBD.”

In the first half of the 2012 financial year, Delta SBD delivered growth through additional contracts and equipment utilisation, acquired additional longwall relocation and coal drivage development equipment, completed six longwall projects and increased its workforce by 17%.

The company aims to target areas of sector growth, develop new client relationships and also deploy new acquired capital equipment and continue to improve utilisation of equipment.