Mining production, being one of the most energy-intensive industries globally, consumes substantial amounts of fossil fuels and contributes to extensive carbon emissions worldwide. The trend toward electrification and advanced developments in battery technology have shifted attention from diesel power to battery alternatives. These alternatives are appealing, as they contribute to decarbonisation efforts when compared to conventional diesel trucks. This paper presents a comprehensive review of recent technological advancements in powertrains for Mining Haulage Truck (MHT). It also compares these configurations based on mining system-level considerations to assess their future potential. The evaluated configurations include Diesel-Electric Truck (DET), Trolley Assist Truck (TAT), Battery-only Truck (BOT), Battery Trolley with Dynamic charging truck (BT-D), and Battery Trolley with Stationary charging truck (BT-S). According to the analysis, the energy demand for on-board diesel or battery power (excluding trolley power) in these alternative options is as follows: DET—681 kWh, BOT—645 kWh, TAT—511 kWh, BT-S—471 kWh, and BT-D—466 kWh. The paper also illustrates the theory of battery size design based on the current battery technology, battery material selection, battery package design, and battery size selection methods. In the case of tailored battery size selection, BOT, BT-D, and BT-S configurations require LiFePO4 (LFP) battery masses of 25 tonnes, 18 tonnes, and 18 tonnes, respectively. Based on a techno-economic assessment of battery MHT alternatives with a future perspective, it has been determined that BT-D requires the lowest amount of on-board battery energy. Furthermore, over a span of 20 years, BT-S has demonstrated the lowest on-board battery cost.