What is the Economical Point of Replacement of Pit Equipment in the Southwest Copper Pits?

One executive writing on capital equipment re- placement stated: "We keep extremely close watch over repair costs and when we reach the point of uneconomical operation, we replace the machine." This, of course, is most elementary, but a very basic premise. However, it seems advisable to set forth several equally obvious principles, so that all discussion will start from the same point. The subject is intended to deal with the point of uneconomical operation due to high operating costs in general and high repair costs in particular. This is not concerned with a similar problem of high costs because of an insufficient number of machines, be they trucks, shovels, or dozers.