Mastering Equipment Costs - Part I: Insights, Strategies, and Real-Life Lessons

Update: 2025-08-06

Description

In this episode, Keaton Turner reflects on overcoming a bad day and credits David Kellerstrasse for his influence. He discusses the power of mindset in facing challenges and shares industry news on MP Materials and Apple's investment. Keaton covers economic fluctuations in mining and answers a listener's question on equipment costing and strategy. He highlights Mike Vorster's book and discusses simplifying equipment ownership costs, financing, and estimating residual value. Topics include calculating ownership cost per hour, the impact of idling, and usage-based cost accounting, wrapping up with insights on equipment depreciation and field decisions.

(0:35 ) Follow-up and feeling amazing after a bad day
(1:36 ) Shout out to David Kellerstrasse
(3:25 ) Embracing mindset to overcome challenges
(7:06 ) Industry news: MP Materials and Apple investment
(8:45 ) Economic fluctuations in mining
(10:12 ) Listener question on equipment costing and strategy
(16:30 ) Sponsor: Mike Vorster's book
(21:43 ) Simplifying equipment ownership cost
(30:21 ) Equipment financing and residual value estimation
(34:12 ) Calculating equipment ownership cost per hour
(36:19 ) Impact of idling on equipment costs
(39:29 ) Consistency in equipment ownership rates
(42:05 ) Usage-based cost accounting for assets
(45:47 ) Avoiding cash flow issues in project costing
(47:05 ) Project managers and equipment cost decisions
(49:25 ) Story: Costly idling for air conditioning in haul trucks
(55:07 ) Final thoughts on equipment depreciation and field decisions
(56:27 ) Outro and hotline information