After the opening ceremony of the 2015 China Mining, Dr Peng Qiming, the chief geologist of MLR, chaired the keynote speech session. Experts from financial industry and mining industry made presentations on the influence of international economic situation on mining development as well as new opportunities and development under the economic new normal.

Si Xinbo, the former vice president of Qianghai Branch of the China Development Bank, the vice manager of Silk Road Fund Co., Ltd, indicated that the current situation of mining development was not encouraging. As the global economy was still in a state of thorough adjustment, the mining industry would confront lots of difficulties and challenges. The history indicates that the distribution and utilization of mineral resources are tied to the international economic structure. However, the change of international economic situation can determine whether the mining industry is prosperous or not. He indicated that the global mining industry had shown some trends in the thorough adjustment. Firstly, global mining is still dim, with no signs of turning well. Then global mining and geological exploration industry are extending from traditional mining powers to developing countries and blank areas with abundant mineral resources. Next, social responsibilities and environmental protection standards are much stricter which lift the technology difficulties and costs in mining industry. Last but not least, the dim industry caused much loser supervision which leads to more merger and recombination opportunities in international mining industry.

　　Li Shanquan, the senior vice president and senior fund manager of American Oppenheimer Funds, shared his opinions and feelings of China’s enterprises going global in aspects of features and investment of mining, opportunities and challenges of domestic enterprises’ overseas investment, some suggestions on domestic enterprises going global and his outlook on the future market. He indicated that mining industry had the feature of long period of the project, investment and industrial law, and mainly resulted by the limited resources. In addition, it’s hard for mining enterprise to be special, and the competition between enterprises is about the quality of resources or management, and it’s arduous to innovate. Because the economy of scale is unobvious, those enterprises just merge for acquiring resources. What’s more, the specialty of mining industry also shows that pricing power doesn’t belong to manufacturer only or user only, and every manufacturer almost passively accepts the price made by global market which left little room for price negotiation.

Chen Jinghe, the chairman of Zijin Mining Group Co., Ltd, said current mining industry was in a severe situation and we didn't know how long it would last. The speed of China's economic growth is slowing down, and its industrialization is almost in the middle or late period, the future development would be mainly the service industry which causes negative effects on mining industry. The whole mining industry in China is congenitally deficient, and most of the mines in China are small-scale with low grade, great mining difficulties, relatively low level of marketization compared to other industries, and even some big firms are large but weak. Hence, under the situation of new normal, mining development should put survival in priority, and then seek development. We should also enhance our capabilities and control costs, make reforms and adjust ourselves to the existed industrial system, and cut all kinds of expenditures.