Judging from the statistical data for the first half of the year, 10 The production of non-ferrous metals increased year-on-year. 6.7% Iron ore incremental increase for the same period 7% Oil and gas increased year-on-year. 1% Coal was the only commodity that remained in balance compared to last year. Iron ore imports increased by a year-on-year rate in the first half of the year. 19%，10 The production of non-ferrous metals, especially copper, increased year-on-year. 34%。

　　 “ At present, China’s mining industry is undergoing a deep and protracted adjustment phase. The key to its recovery lies in determining the magnitude of the downturn and the duration of the adjustment. The only way forward is to deepen reform, accelerate structural adjustments, launch a new round of technological innovation, and boost labor productivity—only then can we successfully navigate this difficult period. ” Wang Jiahua, Executive Vice President of the China Mining Association, recently appeared at the China Mining News Agency. 2014 At the annual news and publicity work conference, it was proposed that we should adopt a macroscopic perspective and correctly assess the current mining industry situation from the standpoint of economic globalization.

　　Regarding the domestic mining situation, Wang Jiahua stated that China’s mining industry’s contribution to the macroeconomy has not stalled; demand for mineral products continues to grow, though the pace of growth is slowing down. “ Judging from the statistical data for the first half of the year, 10 The production of non-ferrous metals increased year-on-year. 6.7% Iron ore incremental increase for the same period 7% Oil and gas increased year-on-year. 1% Coal was the only commodity that remained in balance compared to last year. Iron ore imports increased by a year-on-year rate in the first half of the year. 19%，10 The production of non-ferrous metals, especially copper, increased year-on-year. 34%。”

　　Moreover, the painful period of structural adjustment is already becoming evident in the mining sector: overcapacity has emerged in certain minerals, such as coal; environmental pressures continue to mount; and exploration investments are declining. 13.7% Drilling volume declined year-on-year. 21.7% ; Mineral assets have been severely damaged, and the share value of junior exploration companies on the Toronto Venture Exchange has declined by approximately... 70%~80% Financing has hit a bottleneck, operations are facing unprecedented difficulties, and mineral prices continue to decline; China 14 Home World 500 Mining-related enterprises are reporting losses.

　　Wang Jiahua believes that China’s mining sector has entered a critical phase of deepening reform, and this phase is generating a “push-and-pull” mechanism. As we pursue a path of green development and scientific practices... “ Go out. ” A consensus has been reached within China’s mining industry regarding the establishment of a risk exploration capital market in China. “ The classification of mining as a primary industry has been recognized by the academic community and has reached industry-wide consensus. Premier Li Keqiang has already issued instructions on the research report submitted by the China Mining Association. ”

　　 “ China’s economy has the highest contribution rate to the global mining industry, providing support for prosperity even during economic downturns. Without China, iron ore prices would have been impossible to sustain at their current levels. 90 U.S. dollar / Ton. ” Wang Jiahua emphasized that China is not responsible for this year’s decline in mineral prices. “ Our country GDP The growth rate has dropped from double digits to... 7.5% However, the absolute volume is still growing and has little impact on the international market. Yet, with emerging economies struggling to gain momentum and developed economies recovering slowly, much of the newly added mining capacity worldwide cannot be absorbed by additional demand in the short term, leading to a decline in mineral prices. ”

　　How much longer will this downturn last? Will the decade-long golden age of mining ever return? On this point, Wang Jiahua believes that the duration of the downturn depends on China’s mining industry. “ Fundamentals ” and the development status of other emerging economies, “ As for the macroeconomy, in the future... 15~20 This year, China’s rigid demand for mineral products continues to grow. If India... GDP Stay 6% Growth rate, 15 After the Chinese New Year, we will enter a historic juncture marked by a rapid surge in demand for mineral resources—taking over from China. ‘ Relay baton ’ Only then can mineral prices remain stable; otherwise, there is little hope for mineral prices to rise. ”