Impacts of financial crisis on mining industry and some prospect

The financial crisis involving all over the world is indulged in persecution right now. The mining industry cannot get out of the disaster either. All prices of mineral product went down and share prices of mining company depreciated in great extent directly and quickly, and the demand for minerals declined due to the financial crisis. The great decline in prices of minerals is a logical return after foam of price of minerals was destroyed. The mutual superposition and influence between the cycle of mining development and the financial crisis that are not likely to happen in a century accelerated the pace for ending the mining boom and going in down-turn period. Though both challenge and opportunity for mineral industry has been brought by the financial crisis, opportunity is far more than challenge. Therefore, some suggestions are put forward such as improving our mining invest environment and adjusting policies in imports and exports for minerals, supporting and constructing large multinational companies and increasing competitiveness, setting up some bases for resource reserves overseas and attracting talents in geological survey at abroad, re-viewing and recognizing the position of Central Geological Exploration Fund, and integrating resources in favorable opportunity and advancing the mining structural adjustment.