Abstract: With the promotion of “the Belt and Road” initiative, China’s overseas mining investment is growing rapidly and also facing many risks.Therefore, it is necessary to conduct scientific analysis on the risks of overseas mining investment and improve the ability to resist risks.Based on the structural power theory, this paper firstly constructing the risk evaluation index system of overseas mining investment, which takes safety structure, production structure, financial structure and knowledge structure as the criterion layer.Then, the grey relational risk evaluation model is constructed by Topsis method and grey correlation analysis method.Finally, an empirical study on the risks of China’s overseas investment in metal minerals is carried out.The results show that political stability is the most important factor affecting the risk of outbound mining investment, followed by education popularity, diplomatic relations, social stability and resource endowment.According to the country risk analysis, Iran, the Philippines, Vietnam and Poland are high risk countries; Russia, Indonesia, Kazakhstan and Mongolia are low risk countries.Other countries are at medium risk.In the face of the difference of risk factors and investor countries, overseas mining investment should scientifically evaluate the political and social stability of the host country, and fully investigate the resource endowment, mining convenience and infrastructure completeness.And innovate the overseas mining investment financial mode, strengthen the construction of professional personnel in mining investment and domestic and overseas legal stripes, to prevent and avoid the overseas mining investment risk.