In mining, cut-off grade refers to the minimum amount of metals that must be present in a sample of rock for the sample to be classified as ore. The optimization of cut-off grade is fundamental to all components of the mine production planning. This work will show how financial derivatives can be used to transform rocks into ore. It will also proscribe a methodology for jointly optimizing cut-off grades along with financial derivatives portfolios, to achieve superior strategies given management's objective realities and subjective beliefs. A proprietary case involving a real mine controlled under the judgement of real upper management is presented. Compared to current policies, the technique shows nine-figure plus increases profit with no change in future risk/reward levels, significant reductions in mineral waste, increases in reserves and extended mine life-expectancies.