<div>Mineral exploration and development involves the selection of potential projects which must be evaluated across disparate characteristics. However, the distinct metrics involved are typically difficult to reconcile (e.g. geological potential, environmental impact, jobs created, value generated, etc.). Separate stakeholders—with different goals and attitudes—will reasonably differ in their preferences as to which categories to prioritize and how much weight to give to each. These conflicting preferences can obscure optimal outcomes and confound project selection.</div><div><br></div><div>In this presentation, we will discuss how early-stage exploration decisions can be treated as multi-criteria optimization problems. We show how this approach can be used to effectively evaluate and communicate competing criteria, and locate regions that perform best under a range of different metrics. We then outline a mapping framework that identifies regions that perform best in terms of geological potential, economic value and environmental impact and demonstrate this approach in a real-word example that highlights new exploration targets in the Australian context. Abstract presented at the American Geophysical Union (AGU) Fall Meeting 2023 (AGU23) https://www.agu.org/fall-meeting

<div><strong>Output type: </strong>Exploring for the Future Extended Abstract <strong> </strong></div><div><br></div><div><strong>Short abstract: </strong>There is an increased international focus on achieving high environmental, socio-economic, and governance (ESG) outcomes within mineral supply chains, in addition to delivering positive economic results. Mineral exploration and development projects must balance these disparate objectives to the satisfaction of separate stakeholders. However, the challenge of reconciling distinct preferences can obscure viable outcomes and confound project selection, particularly in the early stages of project development. Here, we discuss how such investment decisions can be treated as multicriteria optimization problems. In appraising the pre-competitive potential for nickel sulphide developments, we show how this approach can be used to effectively evaluate competing objectives and to locate regions that perform best under a range of different metrics. We outline a mapping framework that identifies Australian regions that optimally balance geological potential, economic value, and environmental impact. Our workflow creates a new capability within Australia to incorporate high-level, holistic information into the earliest stages of exploration. While this abstract focuses on mineral exploration, the modelling could be extended to other Australian resource development applications. Importantly, our results further underscore the need to compile baseline ESG datasets across Australia to help drive sustainable exploration decisions.</div><div><br></div><div><strong>Citation:</strong> Walsh S.D.C., Haynes M.W. &amp; Wang C., 2024. Multicriteria resource potential mapping: balancing geological, economic &amp; environmental factors. In: Czarnota, K. (ed.) Exploring for the Future: Extended Abstracts. Geoscience Australia, Canberra. https://doi.org/10.26186/149250</div>

<div>The People and Culture Strategy 2028 articulates Geoscience Australia’s aspirations for who we are, and how we work<strong>. </strong>Through strategic people and culture principles, this Strategy outlines Geoscience Australia's plan to recruit, develop and retain the workforce necessary to advance Earth sciences in Australia. These strategic principles are interdisciplinary excellence, strengthened safety performance, success through diversity, leaders at all levels and collaborating for impact.&nbsp;</div><div><br></div>

<div>Steelmaking value chains are economically important to Australia, but the need to decarbonize traditional steel-making processes could disrupt existing supply lines. Hydrogen-based iron and steel production offers one pathway for reducing the carbon intensity of steel. The opportunities and challenges presented by this technology, for Australia, are obscured as its cost competitiveness depends on the interaction between multiple industrial processes, including feedstock requirements, storage options, and the availability of infrastructure. To address these problems, we have developed the Green Steel Economic Fairways Mapper. This mapping tool enables user-driven assessments of the green iron or steel resource potential across Australia. The tool optimizes system capacities for renewable energy generation, battery storage, hydrogen electrolysis, and hydrogen storage to estimate the levelized costs of green steel and how these costs vary regionally. Here, we present examples of analysis and integration with other geospatial datasets. Our model compares favourably to previously published cost estimates while also providing granular, spatial considerations of resource potential. Examples demonstrate that the tool that can be used to inform decision-making in the development of actions to de-risk green steel development within Australia.</div>