Abstract: In recent 10years,as China's overseas investment on iron ore is continually expanding,many companies have started full-scale exploration and investment programs in Australia,West Africa and other areas,and have made a active effect.However,numerous problems emerged during the progress of these programs,such as the low share of mineral rights,the over-concentrated investment location,the prohibitive investment cost,the lack of engagement for private enterprises,and the disarray in business management.This article analyzes the current situation of China's overseas investment programs on iron ore,proposes corresponding countermeasures,and comes up with a better set of the mining investment's system and mechanism.For example,it would be helpful to focus investment on West Africa,to shorten the period of return on investment,to encourage more private enterprises to invest overseas,and to improve preparatory work for new programs.