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APEC strengthening mining sustainability

APEC strengthening mining sustainability

Beijing, 27 June 2014 – APEC Ministers Responsible for Mining are meeting in Beijing in pursuit of greater industry sustainability needed to satisfy long-term demand for metal and mineral resources and achieve higher quality growth across the Asia-Pacific.

Wang Yong, a State Councilor of China, described in keynote remarks the extent of the role mining plays in fueling socio-economic development in the region while noting that the current slowdown within the sector due to the sluggish global economy is only temporary and that emerging consumption trends make closer cooperation to enhance it essential.

“Mineral exploration, investment and trade play a vital role in promoting economic and social development, creating jobs, reducing poverty, improving our infrastructure and in narrowing the gap between different regions,” Wang explained. “It also provides a solid foundation for development and prosperity in the Asia-Pacific.”

“Global industrial restructuring and the new technology revolution are gaining momentum,” Wang added. “Developed economies are upgrading their manufacturing sectors and are also working to reindustrialize themselves.”

“Emerging economies are pressing ahead with the process of urbanization and industrialization,” he continued. “Therefore demand for metals and minerals will remain robust in the years to come.”

The Asia-Pacific is the largest producer and consumer of mineral resources. It accounts for nearly half of the global production and consumption of oil and gas as well as around 70 per cent of mineral products such as coal, copper, iron, nickel and zinc.

“Strengthening mining investment and trade cooperation, boosting innovative and science-based development, and encouraging enterprises to fulfill social responsibility and promote cooperative, secure, efficient, green and integrated mining development are common tasks we face,” said Jiang Daming, China’s Minister of Land and Resources who is chairing the meeting.

Ministers are discussing policy strategies and experiences in addressing these issues and formulating the next step for regional cooperation within the mining sector.

“Today, mineral products are used in nearly every production process,” concluded Dr Alan Bollard, Executive Director of the APEC Secretariat. “The guidance that Ministers offer to further mining investment and trade facilitation, research and development, environmental protection and safety, and the implementation of it, will help to establish new industry projects and ensure they are developed in a sustainable way that brings greater benefits to society.”

The APEC Ministers Responsible for Mining Meeting will continue through Saturday.

ENDS

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