One of the principal costs in mine is related to purchase and application of equipment. Proper fleet selection, in a way that it secures the production needs of a mine as well as minimizes costs of production, is one of the real challenges of mine planners. As such, with the selection of suitable fleet of equipment and their application, could minimize the capital and operational costs. Classifying the equipment selection process into three phases i.e. type of fleet, size of equipment and calculation of required numbers, the present article focuses on different application methods in each of these phases, their advantages and shortcomings.