167 utilize partnerships with future managers of the land, including Indigenous communities, could be a key mechanism for ensuring stewardship beyond the completion of mining. While progressive companies in the sector may be committed to enabling mine closure and positive post mine legacy outcomes, the challenge for leadership is demonstrating the return on investment from specific actions and investments made early and at particular points over the life of mine. For example, discount rate selection using industry standard approaches can be problematic. To address this issue our research has investigated the use of utility transformations to support an alternative framework for assessing time, risk and value that considers, quantifies and normalizes the perspectives of a diverse closure and post mine transition stakeholders. Replacing standard objective functions with transformed datasets in this way may provide a mechanism that integrates with a multi-criteria optimization framework to: • Address mine production scheduling by integrating both multi-criteria and multistakeholder perspectives • Formulate and solve multi-objective optimization models • Recommend a mining schedule that can meet the expectations of all stakeholders through an evaluation model Currently, there is a lack of consistency in the application of traditional capital studies approaches in closure and post mine transition planning across the sector. Also, there is opportunity to better understand their limitations and evaluate the different strategic approaches corporate leaders may take in response to these studies across the life of asset to optimize accrued value and manage liability. The CRC TiME 2025-2027 strategic plan has identified this as a priority and we will be delivering research to inform guidance for the sector. ENSURING THAT THE VOICES OF LOCAL COMMUNITIES AND INDIGENOUS PEOPLE ARE HEARD, INVOLVED IN DECISION MAKING AND DERIVE VALUE FROM CLOSURE REPURPOSING AND TRANSITIONS Mine closure is a fundamental part of the mining lifecycle. While planning and work to support a positive post-mine transition is undertaken across the mine life, many decisions before development and during approvals processes shape what is possible when mining ends. Information asymmetry, resourcing disparity and complex processes can limit the ability of Indigenous and regional communities to meaningfully participate in consultation, negotiation, decision making and agreement-making processes. It can also limit the ability of local businesses, Indigenous landholders and communities and others to identify, plan for and capitalize on commercial opportunities, including those involved in mine closure such as land rehabilitation. A common thread running through our studies of multistakeholder approaches is that the company rarely plays the lead role and there is a shift away from the traditional company-centric approach (ICMM, 2025). Contrary to the general inclination of (and to some extent, expectation placed on) mining companies to lead initiatives, there is a role for governments, NGOs and companies to develop independent, high quality and tailored information about mineral development, risks and opportunities and consultation and approval processes and ensure Indigenous and regional communities can access tailored, independent
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