This paper addresses the difficulties mining companies face in planning their digital transformation. Based on the literature on project portfolio management and digital transformation, we propose a project portfolio management model adapted to the mining industry that aims at aligning the value of the digital transformation projects with the desired strategic outcomes of the Smart Mine. This paper focuses on the initiative's identification phase, divided into portfolio, program, and project levels. The model, which has not been tested yet, follows the academic and industrial best practices to answer the mining specificities, including risk management, communication and stakeholder management, and change management.