Mill operators are entrusted to manage what are normally the largest capital assets on any mine site. Achieving maximum utilisation and lowest costs that drive operating margins are realised by applying well known fundamentals of good housekeeping and proactive (as opposed to reactive) maintenance programmes. Historically, maintenance and operations staff are bought in late during the construction stage and often do not have the time, know how or tools to put in place (let alone train the incumbent staff) a functioning maintenance system before commissioning starts. They then get drawn into a reactive maintenance paradigm as teething problems post commissioning are dealt with and day to day issues envelop the line tradesmen and supervisors. Additionally, even when some semblance of a planned maintenance system is established, it is often the case that over time personnel and cultural issues mask the development of problematic maintenance practices. As has been observed by the authors on many occasions, even when some basic programmed maintenance system is in place, the collection of maintenance data is often inaccurate, incomplete and not subject to analysis. The net result is of course a high incidence of machine failure leading to lower than expected availability, which ultimately translates to lower revenue and higher net maintenance costs. The time taken and the cost to repair a failed machine is always greater than the timely and planned repair of a worn machine.Upon review of a number of processing plants around the world, especially gold and small base metal operations, it is apparent that companies need to implement maintenance systems whereby the operators are not overwhelmed with data and can manage by exception. Inadequate or inaccurate data collection and analysis result in poor decisions being made and misguided actions taken. GR Engineering Services (GRES) has developed a system to enable the custodians of mining plant assets to make more effective and effective use of maintenance data by being able to focus on the indicators of plant deterioration and to programme concurrent maintenance activities to maximise plant availability and utilisation.This paper outlines the structures that can be employed to address the challenges of implementing a proactive asset management system. The best practice strategies described herein have been based on the fundamentals of a sound asset management framework:a phased approach to the development of Asset Management methodology and processeseffective implementation of programmed maintenance routinesmanaging asset condition data collected from various sourcesefficient analysis of asset data and management by exceptioninterfacing asset management data with Computerised Maintenance Management System (CMMS) and Electronic Management Systems (EMS) systemstips to assist with maximising asset performance.CITATION:Welsh, A L and Newling, P S, 2015. Operating strategies for custodians of company assets creating wealth, in Proceedings MetPlant 2015, pp 338-352 (The Australasian Institute of Mining and Metallurgy: Melbourne).