As mining activity moves to remote and less developed locations globally, a holistic approach to mine development is fundamental for achieving a balance between strong financial returns and corporate social responsibility and transparency. Key inter-related fundamentals such as social licence to operate, life-of-mine operational planning, minimising environmental impacts and, most importantly, attractive investment returns for the mining company all contribute to the viability of any new mining project.However, the typical practice in the mining industry is often to treat environmental and social/community aspects as separate compliance issues that are dealt with at minimum cost and disruption to the project and resulting operation. This often results in less than optimum environmental and social outcomes, and presents considerable liabilities at the time of closure when rehabilitation programs continue to require funding when all revenue has ceased.The five capitals model seeks to identify each of the key contributors to sustainable development as financial, manufactured/physical, social, human and natural to formulate a type of triple bottom line approach balancing these often competing project factors. The SUSOP sustainability risks and opportunities framework, developed by the mining industry, bases its approach on the five capitals model and proposes an approach that breaks down enterprise silos to identify innovative solutions for life-of-mine sustainability. This framework has been developed with the nature of mining projects in mind in order to produce approaches and outcomes relevant throughout the life cycle from the planning phases, through project design and construction into operation and closure.This paper argues the need for a more holistic approach to the development and operation of mining projects, and presents case studies where a holistic approach has been applied, in whole or part, and discusses the lessons learned from these case studies.CITATION:Corder, G D, Keith, A and Dyer, L, 2014. A capitals based approach - leading innovation in planning for life-of-mine sustainability, in Proceedings Life-of-Mine 2014, pp 499-512 (The Australasian Institute of Mining and Metallurgy: Melbourne).