Abstract: Global mining, characterized by its obvious periodic features, is closely related to industrialization process. The cycle of mining industry was consistent with that of global economic development. Demand for resources is progressive in terms of time, which determines the continuous prosperity of mining industry. The shifting of center of global mining happened with that of global industrialization. Global mining has entered into the third cycle since 2003, in which industrial concentration has been strengthened, monopoly characteristics become more noticeable, and low-cost era of minerals came to an end. The entry of financial capital into mineral commodity market makes mineral commodity price system more complicated. In medium-and-long-term, industrialization and urbanization of new emerging countries, such as China, India and African countries will not be a standstill, and rigid demand for resources will push the super cycle of mining industry forward. In medium-and-short-term, Euro-US debt crisis keep worsening, and middle-east situation is undergoing great changes. The risk of double dip of global economy is increasing, the recovery of global economy does not live up to expectations, and the demand for minerals is decreasing. Opening of new mine capacities resulted in a new adjustment phase of mineral prices. Global mining can be characterized by “weak demand, higher price, volatility intensifying” for some time to come.