This thesis investigates the technical and economic feasibility, as well as emissions related benefits, of incorporating energy recovery systems (ERSs) on board mine haul trucks (MHTs) used in surface mining. More specifically it aims to answer the research question: "What practical combination of hybrid drive topology, and energy storage technology, capacity and use on board mine haul trucks, will maximise the economic benefit of energy recovery and re-use, considering variation in haul route characteristics and the time value of money through the life of a surface mining project?" To answer this question, a simulation program was developed and progressively expanded to conduct each of four main stages of the research. In Stage One, the simulation program was used to determine the potential of various technologies to reduce the fuel consumption per tonne mined for each of a range of pit depths. Appropriately informing the simulation program required identifying and quantifying representative input values for truck, haul route, and ERS characteristics. Truck and haul route characteristics determine the energy recovery rate and amount of energy recoverable to the trucks' DC-links. ERS characteristics enable evaluating the potential and practical implications of each ERS technology to capture this recovered energy. ERS technologies considered include ultra-capacitors, lithium-ion capacitors, chemical batteries, and electro-mechanical flywheels (EMFWs).