I recall seeing an Economist article probably twenty years ago now, showing that the mining industry had lost some 40% of shareholder value (as a whole) during the 1900s. To open a new mine these days you need to be a) lucky, b) an optimist and c) almost bloody mad. OK c) is bit of an exaggeration.
I have been in the mining industry some 40 years ... my advice is buy low, sell high ... blue chip mining companies. When the economy crashes and prices go down ... buy, you may be out of a job and need every penny, but that is time to buy. I suspect 'now' is high. If we look at the US Bureau of Labor Statistics, we can see crashes have been cyclical.