Analysis and countermeasures of the mining industry situation in Hubei province

In recent years, the mining industry of Hubei province experienced rapidly descending of mineral exploration investment, step-downing of fixed assets investment, downturn of mining rights market, transferring from high-speed growth to stabilization even to recession in mineral products, and stalling of total output value, which seriously affecting the overall economic development for Hubei province.It is expected that in the next 5-10 years, the development of mining industry will face the following basic trends in Hubei province:high demand for mineral resources; mining investment market is expected to recover; resolving excess capacity and realizing industrial transformation and upgrading are becoming the top priority of mining development; the synergistic development of mining economy and ecological system will be norm state; the Belt and Road Initiative provides a strategic opportunity for the mining development.Furthermore, the paper suggests that the mining industry in Hubei province needs to actively adapt to the markets demand, to serve the development strategy of the “Yangtze River Economic Belt”, to promote the development of green mining, and to increase international production capacity cooperation.