This collection compiles recent key news in the global mining industry, covering mineral price fluctuations, major project commissions, policy adjustments, industrial mergers and acquisitions, and supply chain changes. It aims to present the latest development trends of the global mining industry, providing reference for relevant practitioners and researchers.
- Gold and Silver Prices Surge to Historic Highs, with Bullish Trend Expected to Continue into 2026
In 2025, international gold prices rose by more than 70% and silver prices by 140%, marking their best annual performance since 1979. Geopolitical unrest, central bank gold purchases, and ETF absorption are the main drivers of the sharp rise in precious metal prices. Persistent global geopolitical tensions, such as the U.S. seizure of oil tankers and increased pressure on the Venezuelan government, have enhanced the safe-haven appeal of gold and silver. In addition, the year-end rise in precious metal prices is mainly due to market expectations that the Federal Reserve may further cut interest rates in the coming year. Analysts from major banks predict that this trend will continue into 2026, and a Goldman Sachs survey shows that more than one-third of clients expect gold prices to reach $5,000 in 2026.
Meanwhile, gold has surpassed the euro to become the world’s second-largest reserve asset by market price, according to a report released by the European Central Bank in June 2025. This is one of the signs of the diversification of global central bank assets. Although the U.S. dollar still maintains its top position, its market share is declining year by year, and the global de-dollarization trend continues. Data shows that by the end of 2024, gold accounted for 20% of global official reserves, exceeding the euro’s 16%. Global central bank gold purchases have exceeded 1,000 tons for three consecutive years, twice the average annual level in the early 21st century, with the purchase speed hitting a record high.
- Simandou Iron Ore Officially Put into Production, Becoming Africa’s Largest Greenfield Mining Project
On November 11, 2025, the President of Guinea attended the ceremony at the Maribaya Port with representatives from Rio Tinto, Winning Consortium, Baowu, and Chinalco to announce the commissioning of the Simandou Iron Ore Project. Covering the construction and development of the entire industrial chain including mines, railways, and ports, the project has a total investment of over $20 billion, making it the largest greenfield mining project in Africa. It is reported that the Simandou ore vein was the world’s largest and highest-grade undeveloped open-pit hematite resource, with proven reserves of 4.4 billion tons and an average total iron grade of over 65%. Once fully operational, the annual output can reach up to 120 million tons.
Among them, the main line of the Massi Railway extending from the mining area is 552 kilometers long, with branch lines of 74 kilometers, having a transportation capacity of 220 million tons per year. The Maribaya Port, jointly constructed by multiple parties, is designed to handle more than 120 million tons of ore annually. The Simandou Iron Ore Project is divided into four blocks: Blocks 1 and 2 are held by the Winning Consortium, in which China Baowu holds a 49% stake; Blocks 3 and 4 are held by Rio Tinto and Chinalco. Industry experts stated that Simandou will drive the concentrated release of global iron ore output.
- Global Mining Mergers and Acquisitions Hit a 13-Year High in 2025 Driven by Demand for Critical Minerals
According to a report from White & Case law firm cited by Miningnews.net, global mining mergers and acquisitions reached $93.7 billion in 2025, a 13-year high and the highest level since 2012. Major mergers and acquisitions include the merger between Anglo American and Teck Resources, Coeur Mining’s acquisition of New Gold, Gold Fields’ acquisition of Gold Road Resources, and Pan American Silver’s acquisition of MAG Silver. The strong demand for critical minerals is the main driver of the wave of mergers and acquisitions, as countries and enterprises compete to strengthen their layout in the critical mineral industry chain to ensure supply chain security.
- Global Mining Industry Chain Restructuring Deepens, with Structural Supply-Demand Contradictions Intensifying
The Global Mining Development Report 2025, released by the International Mining Research Center of the China Geological Survey Bureau on October 24, 2025, shows that the restructuring of the global mining industry chain and supply chain is deepening, and structural supply-demand contradictions are constantly intensifying. Technological innovation, global governance, and green and sustainable development have injected new momentum into the high-quality development of the mining industry.
In terms of exploration and development, global exploration investment, drilling activities, and large-scale mining projects have continued to decrease. In 2024, global investment in the exploration of major solid minerals was $12.48 billion, a year-on-year decrease of 3.3%; the total number of drilling projects and drill holes decreased by 19.9% and 15.3% year-on-year, respectively. In terms of supply and demand, the production and consumption of global energy resources have continued to grow, with the supply-demand structure contradiction intensifying. Among them, the growth rate of supply and demand for energy minerals has slowed down, overall in a tight balance. For bulk solid minerals, steel supply and demand both declined, with the degree of oversupply increasing; copper supply and demand continued to grow, with the supply gap expanding; aluminum supply and demand both rose, with the degree of oversupply decreasing; zinc supply and demand both declined, turning from oversupply to shortage. The supply and demand of strategic emerging minerals grew rapidly, both showing oversupply.
- China Achieves Major Breakthroughs in Prospecting for Copper, Lithium, Uranium and Other Minerals
In January 2025, the China Geological Survey under the Ministry of Natural Resources announced a number of major prospecting breakthroughs. Among them, a series of major prospecting achievements were made in the Qinghai-Tibet Plateau, Heilongjiang and other regions, with the newly added copper resources being twice the newly added resources during the 13th Five-Year Plan period. Major breakthroughs were also made in Sichuan, Xinjiang, Qinghai, Jiangxi, Inner Mongolia and other places, with the newly added resources of spodumene-type, salt lake-type, and lepidolite-type lithium ores all exceeding 10 million tons each. A super-large uranium mine was discovered in the Jingchuan area of the Ordos Basin. Technological research on the comprehensive utilization of the Miaoya super-large niobium-rare earth mine in the Zhushan-Zhuxi area of northwestern Hubei was carried out, overcoming the key core technologies for the comprehensive utilization of niobium resources.
In addition, high-yield industrial oil flow was obtained again in the Sanmenxia Basin, with the evaluated conventional petroleum geological resources of the basin being 427 million tons. Joint scientific and technological research was carried out on the Keping Uplift in the northwestern margin of the Tarim Basin, which has long been difficult to conquer, and high-yield industrial oil and gas flow was drilled in new formations. An ultra-large ion-adsorbed rare earth mine was discovered in the Honghe area of Yunnan Province, with potential resources of 1.15 million tons. Important achievements were also made in the re-evaluation of associated and low-grade resources of 15 minerals in China, including gallium, germanium, indium, gold, nickel, and cobalt.
- Countries Intensify Export Restrictions on Critical Raw Materials, and Resource Competition Becomes Fiercer
In 2025, competition for critical minerals became increasingly fierce, and many countries took measures such as export bans, quotas and licensing requirements, as well as mining bans or restrictions, involving critical minerals such as cobalt, rare earths, lithium, and nickel. The purpose is to ensure the local supply chain, promote domestic processing, and enhance economic security. Among them, Guinea revoked the industrial and semi-industrial mining operation licenses of 51 mining companies and tightened bauxite exports; Mali revoked more than 90 exploration licenses for gold, iron ore, bauxite, uranium, rare earths and other minerals issued between 2015 and 2022; Ghana launched the most stringent gold mine audit in 10 years.
On November 6, 2025, the U.S. Geological Survey (USGS) released the latest list of critical minerals, adding copper for the first time. At the same time, 9 minerals including silver, uranium, metallurgical coal, potassium, rhenium, silicon, and lead were added, increasing the total number of metals to 60. The two main criteria for this list adjustment are: first, quantifying the potential impact of trade disruption scenarios of the metal on the U.S. economy; second, examining whether the mineral supply chain relies on a single domestic producer. The selected minerals will receive direct investment in mining and waste resource recycling, as well as tax incentives for U.S. mineral processing and a simplified mining licensing process.
- Zijin Mining Completes Delivery of RG Gold Mine, Forming a Cluster Effect in Central Asia
In October 2025, Zijin Mining disclosed that its holding subsidiary Zijin Gold International completed the delivery of 100% equity of the Raygorodok Gold Mine (RG Gold Mine) in Kazakhstan on October 10. The completion of this project delivery was only ten days after Zijin Gold International’s listing on the Hong Kong Stock Exchange, realizing the close connection between capital operation and industrial development, and fully demonstrating the company’s long-term strategic vision and efficient execution in global resource allocation. Central Asia is located at the core of the “Asian Gold Belt” and is one of the most potential gold resource-rich areas in the world.
Prior to this, Zijin Gold International had been producing and operating the Left Bank Gold Mine in Kyrgyzstan and the Jilao/Taluo Gold Mine in Tajikistan in Central Asia. With the delivery of the RG Gold Mine, Zijin Gold International has formed a “three-gold tripod” cluster effect in Central Asia. The successful delivery of the RG Gold Mine marks a key expansion of Zijin Gold International’s asset portfolio. After the delivery, the number of gold mines under Zijin Gold International increased to 9, with a total gold reserve rising to 932 tons.
- 2026 Mining Investment Trends: Uranium, Copper, and Rare Earths Become Potential Key Minerals
According to a report released by Sprott, a well-known global asset management company, the deglobalization trend will further extend in 2026, and countries will give priority to ensuring sovereignty and supply chain resilience, making critical minerals and energy security the focus of national strategies. The currency depreciation trade, that is, investors shifting assets from fiat currencies to hard assets, is expected to become the market norm in 2026, further strengthening the strategic allocation value of hard assets such as gold.
In terms of potential mineral varieties, uranium benefits from the demand for nuclear power in the field of artificial intelligence and policy support. Technology giants have signed large-scale long-term nuclear power agreements, and the United States has also invested $80 billion to support the construction of new nuclear reactors, boosting a long-term bull market. Copper prices saw explosive growth in 2025 and are expected to hit new highs in 2026. Supply concerns and demand structure transformation have laid a solid foundation. Since the average cycle from copper ore exploration to production is as long as 17 years, the supply shortage pattern may continue even if copper prices are high. As a “unique and strategically significant supply-constrained mineral”, the importance of rare earth supply security is on a par with price considerations.
