Talk around town. You'll find out that there are two mine owners interested in the same thing: getting an excavator chip from an abandoned piece of equipment. Each mine owner offers the same reward: $1000. Your only tough decision is deciding the future of Redding, as whoever gets the chip will inevitably advance their own agenda.
The chip can be found in an excavator in the great wanamingo mine, on the lowest level with the toughest wanamingos.
There's another chip on the same map, on the ground to the northeast, next to one of the machines. Since only one of them can be sold and the characters specifically mention that it should be found in a "great big mining machine," this second one was probably not supposed to be there.