Modeling the economic effects of transition to an electrified fleet of equipment in deep open-pit mining

L.G. Chuvakhina, P.I. Chuvakhin
Financial University under the Government of the Russian Federation, Moscow, Russian Federation
Russian Mining Industry №3/ 2026 p. 202-210

Abstract: Transition of the mining industry to electric fleet in surface mining is defining a vector for transforming operating model for the mining companies operating deep open-pit mines. The relevance of this problem stems from the need to reduce the unit cost of transporting the rock mass from ever increasing mining depths while simultaneously achieving decarbonization goals. The objective of this study is to perform technical and economic modeling of the effects due to replacing the fleet of dieselpowered open-pit dump trucks with similar electric equipment (battery-powered and trolley systems) at the following three deep open-pit mines: the Lebedinsky Mining and Processing Plant (450 m deep, iron ore), the Escondida copper mine (645 m deep, Chile), and the Kevitsa open-pit mine (525 m deep, Finland). The methodology is based on simulation modeling of the haulage cycle, calculations of the total cost of ownership, analysis of the discounted cash flow, and assessment of the Scope 1 CO2 emission reduction. The empirical base covers technical specifications of the Caterpillar 793, Komatsu 930E, and BelAZ-75131 dump trucks, diesel fuel and electricity price data for 2020–2025, and the design parameters of 2,200 kWh lithium-iron phosphate batteries. The results showed that electrification reduced the specific energy cost by 58–65% per ton of the loaded rock. The total cost of ownership savings over a 10-year period ranges from 168 to 272 million RUB per unit of equipment, depending on the pit depth and the haulage profile. The payback period for additional capital expenditures ranges from 2.7 to 4.2 years. Implementation of the trolley system on the rises increases the loaded travel speed by 40–44% and reduces diesel fuel consumption by 59–85%. The practical significance of the results lies in formation of a sound methodological basis for designing programs for electrification of deep-pit mining and haulage systems, with a quantitative assessment of investment, operational, and environmental effects.

Keywords: electrification of in-pit transport, deep pits, total cost of ownership, battery-powered dump trucks, trolley system, decarbonization of mining, simulation modeling

For citation: Chuvakhina L.G., Chuvakhin P.I. Modeling the economic effects of transition to an electrified fleet of equipment in deep open-pit mining. Russian Mining Industry. 2026;(3):202–210. https://doi.org/10.30686/1609-9192-2026-3-202-210

Article info

Received: 03.02.2026

Revised: 24.03.2026

Accepted: 02.04.2026

Information about the authors

Larisa G. Chuvakhina – Dr. Sci. (Econ.), Professor, Financial University under the Government of the Russian Federation, Moscow, Russian Federation; e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Peter I. Chuvakhin – Cand. Sci. (Law), Senior Lecturer, Financial University under the Government of the Russian Federation, Moscow, Russian Federation; e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

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