12. We agreed that the sustainable development of the mining and metals industry in the APEC Region enhances wealth creation, environmental outcomes and socially responsible development and result in enhanced value for society. To give substance to this, we recognized:

1. The need to support and promote initiatives that contribute to meet sustainable development in the mining and metals industry.

2. The importance and the need for promoting a cleaner and more efficient production, building on the significant efforts being made by the industry globally to address the environmental, economic and social impacts and benefits of minerals and metals.

3. That best practices can be fostered through collaboration between member economies in such areas as technical and capacity-building support to address small scale mining and legacy issues including rehabilitation of mining sites.

4. The need of promoting a culture of harmony between the mining industry and local populations influenced by mining operations. This concept should be based on a continued dialogue, the respect for local institutions and authorities and a shared understanding of sustainable development aimed to encourage opportunities for human development beyond the mining activities in the long run.

13. We acknowledged that trade and investment liberalization and facilitation of minerals and metals improve the economic and social conditions of APEC economies. These actions need to move forward based on the Bogor Declaration and in the premise of discussions at APEC Meeting of Ministers Responsible for Trade.

14. In order to meet trade and investment liberalization and facilitation of minerals and metals, we:

1. Considered it necessary to identify the tariff and non tariff related issues for minerals and metals in the APEC context.

2. Recognized the importance of detecting future prospects for trade and investment facilitation in the mining and metals industry.

3. Assumed the need to identify, analyze and foresee regulatory trends for minerals and metals.

4. Recognized the desire of APEC economies to expand trade in minerals, metals and mining-related goods, services and technologies.

5. Recognized the importance of working towards facilitating investment in the mining and metals industry and therefore the balance between supply and demand in order to support development of APEC economies.

6. Recognized the importance of the mining and metals industry to APEC economies development goals and the need to understand the supply and demand outlook for minerals and metals, and the ability of this industry to meet this demand.

15. We welcomed the launch of the APEC Non-Ferrous Metals Dialogue, as proposed by Russia, particularly the outcome of the first Steering Group Meeting of the Dialogue held in Pucón, Chile, on 25 May, 2004 and encouraged APEC members to work towards identifying measures to contribute to implementing decisions and recommendations made at this ministerial meeting, including through capacity building, exchange of information and best practice. We expressed the hope that the Dialogue will contribute to effective cooperation between Government and Business sectors in minerals and metals and related areas.

16. We agreed to work in a collective manner to raise the profile of the mining and metals industry in APEC, as well as to encourage sustainable development and trade and investment liberalization and facilitation in the sector.

17. We agreed to develop a working plan in order to make future collaboration among APEC economies more precise and effective in order to guide decisions on the minerals and metals sector at the future Meetings of Ministers Responsible for Mining. 

18. We tasked GEMEED to develop and coordinate this working plan which will be reported to Ministers Responsible for Mining and should include the following issues:

1. Increase, improve and coordinate the flow and exchange of information and experiences in the mining and metals industry, including the restructuring of the GEMEED's Minerals and Energy Information Network, in order to:

• Demonstrate the contribution of minerals and metals to sustainable development.

• Recognize the efforts to improve society's appreciations of the mining and metals industry.

2. Promote cooperation of scientific and technological research and development in minerals and metals, within the framework of APEC-ECOTECH principles, in order to:

• Move forward towards a stronger interrelationship among APEC member economy governments, researchers and firms.

• Improve international scientific and technological networks.

• Improve the workforce capability, including the needs of indigenous people, promoting the exchange of professionals and researchers among APEC economies.

• Assess and evaluate the current situation of the workforce resources in the mining and metals industry in APEC economies.

3. Examine mechanisms to work more closely with the industry, including through the APEC Business Advisory Council (ABAC), in order to:

• Generate synergies among the minerals, metals and related sectors taking into account that productive linkages (clusters) are an important contribution of mining to sustainable development.

• Develop small and medium enterprises, which will reaffirm the above mentioned and multiply effects due to a higher generation of jobs and to the greater development of economies.

• Generate a business network which allows cooperation among its members, as well as the analysis of new opportunities for minerals, metals and its related sectors within the APEC region.

4. Promote minerals and metals issues in other APEC Fora.

5. Undertake an assessment of the state of trade and investment liberalization and facilitation of minerals and metals in APEC economies.

19. We agreed to express our concern to the European Union (EU) over possible EU trade restrictions imposed on minerals and metals by the proposed New Chemicals Policy (REACH). The proposed policy is not commensurate with the scale of the problem, particularly with respect to the potential impact on the mining and metals industry, and would impose unnecessary costs.

20. We decided to communicate to the World Bank our concern about the outcome of the Extractive Industries Review (EIR) report, and our interest in working with the Bank to respond to the report.

21. We requested the Chairman to report on conclusions reached at the First APEC Ministers Responsible for Mining Meeting, at the next meeting of APEC Economic Leaders in Santiago, Chile, on November 20 - 21, 2004, in order to ensure that the contribution that the mining and metals industry makes to economic development and prosperity in the APEC region is recognized by Leaders.

22. Finally, we welcomed the opportunity for joint discussion on important issues in the minerals and metals sector. Ministers have committed to meet again when the working plan has been developed.