In order to adapt to the increasing development trend of locomotive distance and load under operating conditions, and to improve the operational stability of locomotive traction under sudden loads, this article proposes a dual power supply system and its droop control method for locomotive traction power supply under operating conditions. In response to the special characteristics of industrial and mining traction, such as sudden load changes and large differences in round-trip loads, a comparative analysis was conducted on the applicability of precise and imprecise current sharing strategies between stations for industrial and mining locomotive traction. Based on the analysis results, a dual power supply system for industrial and mining locomotives and a coordinated droop control strategy between stations were proposed. On this basis, a current feed-forward control strategy was introduced, and a simulation model and a low-voltage test traction physical model platform for industrial and mining locomotives including traction substations were built. The test results showed that the voltage stability of the locomotive under sudden load changes was significantly better than that of conventional droop control methods. This study provides strong solutions and technical support for the development of locomotive traction towards high capacity, long-distance, and high reliability.