<p>Two significant issues that may affect the mining extraction businesses are their existence and the inadequacy of their financial performance. The mining value is more susceptible to market pressures that impact the decision-making process about the continuation of exploitation, production, or recovery after it has been developed or abandoned, as well as the price of the commodity or natural resource. The company must generate sufficient cash flow to meet its social obligations to the government. A mining multi-state investment model was developed based on potential events that could emerge throughout the mining agreement by assuming the relationship between commodity market price, environmental factor, and reserve value. The mine is initially assumed to be operational, but after it is closed, there are two possible scenarios: abandonment or reopening. The value of the mine project was determined by considering the instantaneous correlation between the market commodity price, the environmental factor, and the reserve value.</p>