In mining, ore that is unprofitable to process or extract at current market rates is stockpiled. However, fluctuations in commodity pricing and advances in technology often mean that this ore becomes profitable to process in future.
The students joined an interdisciplinary team to develop a software platform allowing miners to trade on the future value of their unprocessed materials. The interdisciplinary team, led by alumnus and Software Engineer Julian Wise, consisted of Mining3 senior mining researchers and RMIT Software Engineering and IT students. The researchers provided mining industry context and knowledge on mineral price calculations, while the students crafted the pricing algorithm, blockchain ecosystem and website interface.
Students involved received invaluable industry experience, seeing the project through from the initial development stage to completion of the software.