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Quick look! Global Mining Industry Development Report 2025 — HeijinGang Newsflash
In 2025 (the 27th)
At the China International Mining Conference
China Geological Survey International Mining Research Center
Release the "Global Mining Development Report 2025"
Global Mining Development Report 2025
At the "Belt and Road" Geoscience Cooperation and Mining Investment Forum during the 27th China International Mining Conference in 2025, the International Research Center for Mining at the China Geological Survey under the Ministry of Natural Resources released the "Global Mining Development Report 2025" (hereafter referred to as the "Report"). The Report provides a comprehensive overview of global mining trends since 2024 and represents one of the flagship achievements of Chinese research institutions in their ongoing efforts to support high-quality development in the global mining sector.
The report reveals that, against the backdrop of "new normal" low growth in the global economy, the restructuring of global mining industry chains and supply networks has deepened, exacerbating structural imbalances between supply and demand. Meanwhile, technological innovation, global governance, and green sustainability are injecting fresh momentum into the high-quality development of the mining sector. As a result, the global mining industry is accelerating its transformation toward trends such as greening,智能化 (intelligentization), and full-chain integration.
The "Report" reveals that, in terms of exploration and development, global spending on exploration, drilling activities, and large-scale mining projects continue to decline. In 2024, global investment in the exploration of major solid minerals totaled $12.48 billion, representing a 3.3% year-on-year decrease. Meanwhile, the total number of drilling projects and the overall count of drill holes both fell by 19.9% and 15.3%, respectively, compared to the previous year. Additionally, the number of large-scale mining projects worldwide stood at 1,813, marking a 1.4% drop from the previous year.
The "Report" reveals that, on the supply and demand front, global energy resource production and consumption continue to grow, yet the underlying structural contradictions between supply and demand are intensifying. Specifically, while the growth rate of energy and mineral supplies has slowed, the overall market remains tightly balanced. Among bulk solid minerals, steel production and consumption have both declined, leading to an increasing supply surplus; copper continues to see rising demand and supply, widening the gap between them; aluminum production and consumption have both surged, reducing the extent of its current oversupply; and zinc production and consumption have both fallen, shifting the market from oversupply to undersupply. Meanwhile, strategic emerging minerals are experiencing rapid growth in both supply and demand, though they still generally face an oversupply situation. In the realm of precious metals, gold sees simultaneous increases in both supply and demand, yet remains in oversupply; silver supply is declining while demand rises, keeping the supply gap persistently high; and platinum continues to experience robust growth in both supply and demand, deepening the current shortage. Lastly, agricultural minerals show steady growth in both supply and demand, though potassium fertilizer is increasingly characterized by an expanding supply surplus, while phosphorus fertilizer exhibits a shrinking surplus.
The "Report" reveals that, in terms of market prices, international mineral commodity prices have shown significant divergence. Meanwhile, mining companies have experienced an overall decline in stock prices and profits, while both the mining financing market and M&A deal activity have cooled down markedly. Energy-related mineral prices initially surged before retreating; for instance, the average coal price dropped by more than 20% compared to 2023. Meanwhile, prices of major solid minerals have become increasingly volatile—iron ore prices fell by over 30% within the year, while copper, aluminum, and zinc prices saw slight increases. Strategically important emerging minerals continue to face a supply-strong, demand-weak environment, causing their price benchmarks to steadily shift downward. On the other hand, agricultural mineral prices first declined sharply before rebounding gradually as the market recovers. Globally, the stock performance of major mining companies has generally weakened, marked by volatile downward trends. In 2024, global financing for key solid minerals decreased by 11.7% year-on-year, while the value and number of major solid mineral M&A deals and projects also declined significantly—by 42.6% and 31.8%, respectively, compared to the previous year. The report highlights that critical minerals have become a cornerstone of national security and resource strategies for countries worldwide, intensifying competition—and cooperation—across the global critical minerals sector. Developed nations are actively advancing the regionalization of supply chains and encouraging the reshoring of industries through measures such as updating critical mineral lists, erecting trade barriers, strengthening resource alliances, and setting industry-wide compliance standards. At the same time, rising resource nationalism, escalating export controls, and diverging mining policies are further fragmenting the global market. Resource-rich countries, meanwhile, are continuously refining their domestic mineral resource governance frameworks by promoting reviews and revisions of mining laws, deepening reforms in mineral administration systems, and elevating the importance of ESG practices. As the global energy transition and the next wave of technological innovation gain momentum, cutting-edge technologies like AI-driven big data analytics for exploration, advanced geophysical equipment, and integrated space-air-ground remote sensing systems for mineral discovery are steadily maturing. These innovations are accelerating the global mining industry's transformation toward digitalization, intelligence, and sustainability.
The report predicts that as demand for minerals such as those used in new energy continues to expand, the geopolitical competition among major mining nations will deepen further, with resilience increasingly taking precedence over pure efficiency. Driven by technological innovation, a global paradigm shift is underway in the mining industry, transforming it from a "labor-intensive" sector into a "data-driven, intelligence-led, and environmentally sustainable" technology-intensive industry. This once-in-a-century transformation is set to reshape the global landscape of resource governance cooperation, making governance actors more diverse, accelerating the evolution of governance rules, and significantly enhancing governance effectiveness. The report calls on countries to strengthen mutually beneficial collaboration in critical mineral sectors, jointly safeguarding the stability and smooth flow of industrial and supply chains. By working together to build a community with a shared future in mining, nations can tackle global resource challenges, foster sustainable development, and contribute positively to global economic growth.
Browse the image below to quickly grasp the report's content.
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