Brian: Mines and mining contractors typically write off their equipment over five to seven years, but some companies will extend that to ten years or longer. To ensure that the equipment maintains its value over that period, it's essential to maintain it properly. Equipment components all have benchmarks for hours of operation, and it's important to keep track of each component and plan ahead for replacements and repairs. Unexpected maintenance costs can be incredibly challenging for contractors who can't afford to shut down during a contract and may not have the cash flow for component changeouts during the off-season. The funding for maintaining the asset, therefore, should be factored in when the equipment is purchased. Because components on the equipment have different wear cycles, meticulous record-keeping is also required.

Brian: The last thing anybody wants is a fire. Include inspections of Hydraulic Hoses on Equipment in your maintenance schedule. Even if nobody is hurt, fires lead to investigations that can be extremely costly with extensive equipment downtime. Here's a scenario, for example, which is also one of the largest causes of fires when a hydraulic hose bursts. If that happens, there are various causes and effects, such as leaking fluid onto the turbo – the turbo is an extreme heat source and force coming out will cause a massive fire. Another Risk is behind the cab on EDT trucks, where the brake cabinets are mounted, and if that catches fire, the entire cab will likely enflame. The lesson from that is that hydraulic hoses must be inspected & maintained as they only have a three-year life span, so that has to be part of your long-term asset management plan.