ASEAN - sustainable minerals investment destination
The 9th ASEAN Ministerial Meeting on Minerals (AMMin) was held recently in Phnom Penh with the theme of “Promoting ASEAN as a Sustainable Minerals Investment Destination”.
Delegates in a group photo. (Photo: asean.org)The meeting adopted a declaration on promoting ASEAN as an investment destination for sustainable minerals development, which highlights ASEAN’s shared commitment to develop its mineral resources and contribute to securing an adequate and steady supply of metals and minerals to meet rising minerals demand and to fuel industrial expansion across ASEAN while encouraging responsible sourcing of mineral inputs and products to boost the region’s competitiveness and continued access to global markets.
The declaration highlights the opportunities arising from the shifting trends of global minerals demand and the expected intensity of minerals use that are driven by the global transition towards low carbon technologies and the demands of the twin energy and digital revolutions, in addition to meeting the continuing material needs of modern economic growth.
The meeting directed the ASEAN Senior Officials on Minerals (ASOMM) and its Working Groups to develop an ASEAN Mining Vision to chart the progressive development of ASEAN as a regional investment destination, potentially contributing to diversifying global supply chains.
It endorsed the ASEAN Minerals Exploration Strategy (version 1: 2023) or AMEXS-1 that seeks to provide a coordinated set of strategies for improving geological prospectivity in ASEAN from the investor’s perspective, including a specific plan to collect and process the data that underpins the information base for marketing exploration in ASEAN.
The meeting was pleased with the conduct of various online activities jointly organised with the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) to further promote sustainable minerals development in the region.
The ASEAN Principles on Sustainable Minerals Development (ASEAN SMD Principles) was adopted on this occasion, demonstrating ASEAN’s will to improve the mining industry’s sustainability. The participants agreed that the principles will be part of the future thrusts of the ASEAN minerals cooperation sector and will be a building block in developing the long-term ASEAN Mining Vision for post-2025.
The 9th ASEAN Ministerial Meeting on Minerals and its associated meetings and events were held from November 21 – 23. It was preceded by the 23rd ASEAN Senior Officials Meeting on Minerals (ASOMM), the 16th ASOMM Plus Three Consultation and the 7th Meeting of the Board of Judges for the ASEAN Mineral Awards. The 9th AMMin High-Level Dialogue and the Awarding Ceremonies for the 3rd ASEAN Minerals Awards (AMA) were also held in conjunction./.
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