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2005 Meeting of APEC Ministers Responsible for Mining

Gyeongju, Republic of Korea | 20 October 2005
1. We, the Ministers Responsible for Mining representing APEC Member Economies, convened our Second Meeting in Gyeongju, Korea, on October 20, 2005, presided by Chairman Hee-Beom Lee, Minister of Commerce, Industry and Energy of the Republic of Korea.
2. In the spirits of the APEC 2005 and MRM2, themes of "Towards one community" and "Towards the future of mining" respectively, we recognized, especially in the era of globalization, the need for establishing a common view on the development of the region's mineral resources. This view, which should transcend borders, aims to foster sharing and prosperity, recognizing the different mineral resources endowments and development stages of economies.
3. As noted in the first APEC Meeting of Ministers Responsible for Mining (MRM1) in Chile, we recognized that the APEC is the world's largest producer and consumer of mineral resources, and the minerals and metals sector is an important growth engine to member economies.
4. We welcomed the Business Dialogue that was held on October 19, 2005 as side event of MRM2, which was attended by senior industry and government representatives in the APEC region. The participants of the Dialogue indicated a benefit from regular meetings to strengthen and enhance the cooperation between the business sector and governments.
5. We discussed and analyzed three main issues for minerals and metals, recognizing the two issues of the MRM1 in 2004.
  • Market Transparency and Trade Facilitation
  • Promoting and Facilitating Mineral Exploration and Development
  • Mining and Sustainable Development 
Market Transparency and Trade Facilitation
6. We noted that the mineral resources market has been volatile in recent years with demand outpacing supply in some regions. We, thus, recognized the need to improve market transparency and facilitate trade through information-sharing, recognizing that more transparent information on minerals and metals market, including better data on salient statistics, can improve the functioning of minerals and metals market and possibly yield a better balance of supply and demand. 
Promoting and Facilitating Mineral Exploration and Development
7. Recognizing the importance of the minerals and metals sector to economic growth of APEC Economies, we agreed on:
  • The need to foster mineral exploration and development as a way to promote the long-term viability of the sector
  • The importance of ensuring that the investment and regulatory climates for mining are conducive to domestic and foreign investment
  • The need to facilitate exploration through the availability of geoscientific information
  • The importance of strengthening mining-related fora in APEC to promote exchange of information between governments and to enhance consultation with the industry sector 
Mining and Sustainable Development
8. We recognized that the mining sector increasingly faces environmental and social challenges. We also recognized the contributions that are being made by mining, minerals and metals to sustainable development. The task for government and the mining industry is to ensure that mining proceeds in a way that balances social, economic and environmental considerations. We agreed that:
  • With effective management, mining can contribute to economic and social development within APEC, while minimizing environmental impacts
  • The trade in, and use of, minerals and metals and their products are facing new challenges in regional and multilateral fora
  • Mining has made significant strides in improving productivity and energy efficiency and thereby contributing to sustainable development.
Action Items
9. We agreed to examine ways to improve the functioning of minerals and metals markets through efforts, such as information sharing, to improve transparency.
10. We agreed that Expert Group on Minerals and Energy Exploration and Development (GEMEED) can contribute to our common objectives through an examination of current challenges, both institutional and otherwise, to the trade in minerals and metals within APEC and globally.
11. We agreed that GEMEED examine ways to contribute to facilitating exploration and development within APEC.
12. We agreed that GEMEED should facilitate the establishment of Mining Industry Forum to provide industry perspectives and suggest key issues for consideration by Ministers.
13. We agreed that GEMEED explore ways to improve the activities of the APEC Network of Minerals and Energy Data (ANMED), in order to promote information sharing among APEC economies.
14. We agreed that for sustainable development of the mining industry, GEMEED encourage information exchange and cooperation on environment-friendly mining technology, such as energy efficient technology, and mining pollution control technology as well as after-mining land management.
15. We agreed to continue to monitor, share information and communicate our concerns about the European Union's proposed chemicals legislation Registration, Evaluation and Authorisation of Chemicals (REACH), as well as other regulatory initiatives of interest, such as Strategic Approach to International Chemicals Management (SAICM).
16. We agreed to direct GEMEED to develop the strategic plan included in the Work Plan approved and attached to this Statement.