On the MZ9900. That is a Dragline and the bucket is backwards on your graphic. It works by dropping the bucket well away from the machine and pulls it towards it with the cables. Usually one move and the bucket is full.
Also, Small draglines use tracks like you have. BIG draglines walk. They are too heavy for Tracks and they are very very slow at moving but have a very long reach.
Video of a walking Dragline, this is the biggest ever built. Hope the link works. It is to a youtube video.
The Largest Walking Dragline Excavator in The World Marion 8050 Dragline