From June to July,2013，the small earthquake swarm occurred intensively nearby the third Mud Gallery of Aluminum Corporation of China Guangxi Branch which is located in Pingguo County，Guangxi Zhuang Autonomous Region. This paper have collected waveform data of 146 earthquakes with ML>1.0 recorded at the near-source stations. By using the coda time series with high signal-to-noise ratio and filtering the data to eliminate background noises based on Sato mode1，the coda QC(f) was calculated，and the relationship between QC(f) and frequency (f) was obtained. Then，the characteristics of seismic wave attenuation in the third Mud Gallery area were analyzed. 273 three-component records chosen from 7 seismic stations were used for this study. The result shows that the relationship between the QC(f) and f is：Q(f)＝(69.07±40.09)f0.90±0.23, suggesting that the study area is a tectonically inactive zone. The attenuation coefficient for high frequency waves increases with seismic activity. Further analysis on the relationship between QC(f) and the sampling depth reveals that big attenuation layers exist deep beneath the study area.