The ASEAN region is rich in mineral resources and has vast potential for new discoveries. In 2018, minerals trade registered an annual growth of 9%, valued at USD 249.8 billion, and accounted for 8.9% of ASEAN’s total trade. The demand for minerals in ASEAN is expected to increase at the back of continuing economic growth and market expansion within the ASEAN Member States (AMS).
The AMS sees genuine need to promote cooperation in minerals in the region, which will enable AMS and other ASEAN partners to work together in ensuring effective and sustainable approaches in minerals development while promoting investment and trade within ASEAN and beyond. This need is clearly reflected in the ASEAN Minerals Cooperation Action Plan (AMCAP) 2016-2025.
The ASEAN-Australia Development Cooperation Program Phase II (AADCP II) supports the implementation of the AMCAP through the “Strengthening ASEAN Cooperation in Minerals” project. The project helps ASEAN undertake a study to stock-take existing ASEAN minerals development and cooperation in the context of global markets and minerals industry developments and propose corresponding regional strategies and measures. It also includes a scoping study for the development of an effective ASEAN minerals database (AMDIS), which is considered crucial to facilitate much needed investment into minerals exploration and development in the region.
On 23-24 February 2021, representatives from the ASEAN Member States (AMS) convened for the Regional Workshop on the Development Prospects for the ASEAN Minerals Cooperation (DPAMC) and Scoping Study of the ASEAN Minerals Database and Information System (AMDIS). Held virtually, the workshop discussed the initial findings and recommendations from the drafts of the DPAMC Study and the AMDIS Scoping Report. Inputs from the workshop will feed into the final DPAMC Study Report and AMDIS Scoping Report, which is expected to be launched in the last quarter of 2021.