Abstract: The world economy is facing accelerated downside risks in 2020, and the recovery of global mining will be slower.Except for some countries like Australia, spending on mineral exploration and development in most countries will decrease.The escalation of geopolitical conflicts, trade wars and resource wars will seriously affect the secure supply of bulk mineral products such as oil and gas.Hedging assets such as gold will attract investors'attention in the market, spurring the investment in exploration and development of gold projects.Critical minerals will continue to be attached great importance to many countries in the world, and the supply of minerals such as lithium and rare earths will be alleviated to a certain extent.