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To gain a competitive edge within the inteational and competitive setting of coal markets,coal producers must find new ways of reducing costs.Increasing bench drilling efficiency and performance in open-cast coal mines has the potential to generate savings.Specifically,monitoring,analyzing,and optimizing the drilling operation can reduce drilling costs.For example,determining the optimal drill bit replacement time will help to achieve the desirable penetration rate.This paper presents a life data analysis of drill bits to fit a statistical distribution using failure records.These results are then used to formulate a cost minimization problem to estimate the drill bit replacement time using the evolutionary algorithm.The effect of cost on the uncertainty associated with replacement time is assessed through Monte-Carlo simulation.The relationship between the total expected replacement cost and replacement time is also presented.A case study shows that the proposed approach can be used to assist with designing a drill bit replacement schedule and minimize costs in open-cast coal mines.