If the load is 60 amps, 1900 feet of 4/0 aluminum gives a voltage drop of about 20 volts, or 4%. If you leave the 10 amp load at that location, and move the 50 amp load another 1000 feet away, and use 350 MCM aluminum wire for the next 1000 feet, it will result in an additional voltage drop of 5.25 volts, or another 1%. That would provide a voltage at the motor of 455 volts, or about 95% of the nominal 480V. If the power company gives you an extra 12 volts to begin with, your voltage at the end of the 2900 foot run would be about 467 volts, or about 97.3% of nominal. That should be fine for operating the motor.
Now, having said that, if this system has been operating since 1983, it is nearly 34 years old. I typically think of electrical equipment, including wires, as having a useful life of about 40 years. That is by no means a hard and fast rule, and many members of this forum will tell stories about equipment lasting far longer. But what I mean to say is that if I am dealing with equipment that is approaching 40 years of age, I will start having concerns about its insulation systems and other characteristics. So before you give your customer any assurances that the scheme you are suggesting will "work fine," I would suggest to the customer that there is value in spending some time testing and evaluating the condition of both the wires and the motors.