Stochastic Mine Planning: Evolving Approaches to Manage Uncertainty

In a recent episode of the Nugget Podcast, Snowden Optiro’s General Manager Tarrant Elkington speaks with Matheus Furtado e Faria, Director of Technical Services at KPI Mining Solutions, about what stochastic mine planning really means for the industry. Their discussion highlights where traditional deterministic approaches fall short, how uncertainty can be more accurately represented in block models, and the practical benefits this brings, from cut-off grades to stockpiling policies. It’s a longer episode than usual, but rich with insights for mine planners, geologists, project developers, feasibility teams, financial analysts, operations leaders, Boards, and executives—anyone responsible for long-term mine value and risk management. The episode shows how stochastic planning helps manage uncertainty, deliver more reliable forecasts and NPVs, support better decision-making, and strengthen both operational resilience and investor confidence.