Global Mining Outlook 2023

The global mining industry, like the world economy, also presents obvious cyclical characteristics. However, the two are not synchronized, affected by economic fluctuations, global mineral development investment and market price changes have a certain lag. In 2022, affected by factors such as the world economic downturn, rising inflation, the repeated COVID-19 epidemic, geopolitical deterioration and resource nationalism, the international mineral products market has been violently volatile, and most mineral prices have risen and then fallen, which is similar to the situation in 2012 when the global mining industry reached its peak stage. In order to ensure the needs of the development of strategic industries such as electric vehicles, Western countries use subsidies and other policies to promote the exploration and development of domestic mineral resources, while establishing international mineral resource security partnerships, and prohibit foreign state-owned enterprises to participate in the development of key minerals in their own countries, but different countries and different regions have different policy orientations, and the market is uneven. In 2023, the global mining industry faces challenges from the world economic downturn, geopolitical and ESG(environmental,Social and Governance) risks. In this paper, the global mining situation in 2022 is reviewed from five aspects: world economy, mineral exploration and development, mineral product supply and demand, mining company operation and the laws and policies of important mineral resources countries, and the global mining situation in 2023 is briefly analyzed. The understanding and conclusions are for reference only.