We discuss the concept of optimal cut-off grade policies and their
advantages in terms of maximisation of net present value of mining
operations. There are indications, however, that such optimal policies are
not widely used in the mining industry. In order to explore why this is the
case we identify a number of stakeholders who may have diverging
interests in the operating policies of a given mine. These various interests
are mapped and a number of important relationships are explored in a
large qualitative systems dyanmics model.