Practical Aspects of Mine Equipment Replacement Analysis

Determining the age at which to replace a specific piece of mining equipment, and choice of the best possible replacement, is a problem common to nearly all mining operations. This paper examines the data required for intelligent equipment replacement decisions and discusses how to predict future repair cost from historic data, determine the total cost of various replacement alternatives, and evaluate the different replacement alternatives. Various operations research and computer methods were used to develop this easily-used, practical equipment replacement method.