Resource Elevators for Coal, Iron, Copper, etc.

I know that this is a unique use-case, because in order to implement a vertical elevator, it seems like you'd have to create a retaining wall on the edges of your mine pit, allowing for the resources to travel upwards without running into dirt/sand/rock landslides. It seems feasible, but since the placement and circumstances would have to be very precise, perhaps this would cause more headaches than time saves? Curious what the audience thinks.

I had a similar idea: an ore elevator that spans 10 (or multiples of 5) height at once. This would mean the elevator needs to be build on a steep cliff or even on 2 or more walls