A method of removing excavated material from a mine shaft during formation of the mine shaft for an underground mine, comprising: transporting excavated material upwardly on a substantially continuous basis from an excavation region of the shaft to a transfer station above the excavation region; depositing the transported excavated material into one of a plurality of storage bins located at the transfer station; intermittently discharging excavated material from the one of a plurality of storage bins into one of a plurality of skips moveable up and down along a skip guide within the shaft to deposit a discrete load of excavated material into the one of a plurality of skips; hoisting the one of a plurality of skips upwardly through the shaft to an earth surface region; discharging the load of excavated material from the one of a plurality of skips at said surface region and lowering the one of a plurality of skips back to the transfer station to receive a further discrete load of excavated material from the one of a plurality of storage bins; and moving the transfer station and storage bins periodically downwardly within the shaft as excavation proceeds; proceeds whereby the skips are lowered and hoisted through the shaft to receive and transport material from the bins; wherein the excavated material is transported to the transfer station by a conveyor associated with the transfer station; and wherein the conveyor has a vertically moveable lower end which is moved downwardly through a limited distance as excavation proceeds between the periodic repositioning of the transfer station. transporting excavated material upwardly on a substantially continuous basis from an excavation region of the shaft to a transfer station above the excavation region; depositing the transported excavated material into one of a plurality of storage bins located at the transfer station; intermittently discharging excavated material from the one of a plurality of storage bins into one of a plurality of skips moveable up and down along a skip guide within the shaft to deposit a discrete load of excavated material into the one of a plurality of skips; hoisting the one of a plurality of skips upwardly through the shaft to an earth surface region; discharging the load of excavated material from the one of a plurality of skips at said surface region and lowering the one of a plurality of skips back to the transfer station to receive a further discrete load of excavated material from the one of a plurality of storage bins; and moving the transfer station and storage bins periodically downwardly within the shaft as excavation proceeds; proceeds whereby the skips are lowered and hoisted through the shaft to receive and transport material from the bins; wherein the excavated material is transported to the transfer station by a conveyor associated with the transfer station; and wherein the conveyor has a vertically moveable lower end which is moved downwardly through a limited distance as excavation proceeds between the periodic repositioning of the transfer station. wherein the excavated material is transported to the transfer station by a conveyor associated with the transfer station; and wherein the conveyor has a vertically moveable lower end which is moved downwardly through a limited distance as excavation proceeds between the periodic repositioning of the transfer station.