The article presents a practical way to make struggling mining projects more profitable by adding flexibility to switch between operating and closed states based on commodity prices. By using a combination of mine design and operational strategies, managers can take advantage of price increases and minimize losses during downturns. The researchers applied a method to estimate the value of this flexibility, showing that traditional project valuation methods may not capture its full potential. The study found that using decision trees can provide a more accurate assessment of the value created by this switching option, without the need to estimate project cash flow volatility. Ultimately, this approach can help determine the upfront investment needed to create this valuable flexibility in mining projects.