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D-8 Holds the 1st Working Group on Mining and Minerals (WGMM) in Bali, Indonesia: Bonding Strengths through Cooperation
Bali, Indonesia | December 11, 2008 by D-8 Secretariat The 1st Working Group on Mining and Minerals in BaliMinerals are necessary in maintaining today’s modern life. Mineral wealth as a natural asset can stimulate or enhance economic growth potential and social progress. It is expected that mining as an industry will continue to expand over the next 20 to 30 years to satisfy a continuously increasing demand from industrial production, agriculture, high-tech sectors, and merchandise producers.
Growing world economic activity and industrial production in the past four decades has resulted in a significant increase in the demand of minerals globally. In recent years, international increased consumption has further boosted world minerals demand and prices. Thus creating incentives and opportunities for D-8 member countries to commercialize their mineral reserves.D-8 countries are rich with natural resources, especially mines and minerals, member countries decided to establish cooperation in the fields of mining and minerals. At the same time the cooperation could be considered as D-8 response to the increasing world demand on coal, iron ore, cement, and other minerals.At the 6th Summit of the D-8 in July 2008 in Kuala Lumpur, Malaysia, the Heads of State/Government of member countries reiterated their commitment to carry on the ideas of economic cooperation among D-8 countries, in all aspects of economic cooperation.
The Summit also adopted Roadmap of Developing Eight Countries for Economic and Social Cooperation in the Second Decade of Cooperation (2008-2018) which is meant to be the guidance of D-8 cooperation. Strengthened by the adoption of Kuala Lumpur Declaration at the 6th Summit, D-8 countries has reaffirmed their commitment to urgently address the energy issues through collaborative efforts in various areas.Based on these facts and targets, D-8 held the first D-8 Working Group on Mining and Minerals Meeting theming “A Resonant Minerals Sector for Sustainable Development”, in Bali, Indonesia, today (11/12/2008).
Attented by the Secretary General of D-8, Dipo Alam, delegations of member countries, representatives from UNIDO, and other top authorities in mining industries, the Meeting was opened by Remarks of the Director General of Mineral, Coal and Geothermal of Indonesia, Dr. Bambang Setiawan.Setiawan said that Indonesia recognizes the potential of D-8 countries which have endowed with abundant of various mineral resources, and therefore proposed cooperation in the areas of mining and minerals through a Working Group on Mining and Mineral, which was responded favourably by the member countries at the 4th D-8 working Group on Energy last June in Cairo.
He underlined that this 1st Working Group on Mining and Minerals (WGMM) meeting has the objective to forge the cooperation between the member countries, through exchange of views on the latest issues, developments and trends in mining and mineral resources, to find solutions of the problems/thrests encountered and to seek leeway of formulating cooperation programs in industries, investments, trade, technology and business.He also further explained that in the world market, Indonesia has played important role as one of the main exporter country for mineral and coal. Currently Indonesia has recorded in the world as the first coal exporter, the second tin exporter, the third copper exporter, the seventh gold exporter.
From the demand side and market opportunities both national and international are apparently still high, while Indonesian has a beneficial geographic position as closed to the Asian potential market that brought hauling cost is cheaper than the other countries. Currently, an increase demand on mineral especially from Asian-Pacific countries, such as Japan, Korean, China, Taiwan, India, Hong Kong, Malaysia, Philippines, and Australia has strongly affected to the increase of mineral and coal production in Indonesia. “We hope there are demand also from Egypt, Iran, Bangladesh, Pakistan, Turkey, and Pakistan regarding mineral and also coal,” he said in his opening remarks.“We recognize the potentials of D-8 countries which are rich with natural resources, especially mines and minerals, member countries decided to establish cooperation in the fields of mining and minerals,” said Dipo Alam, the Secretary General of D-8, to the press. “At the same time the cooperation could be considered as D-8 response to the increasing world demand on coal, iron ore, cement, and other minerals,” he added.
In this first meeting of the WGMM, the objectives drawn particularly is for D-8 to set up its groundwork as the basis for future cooperation through WGMM, such as:
1. To find solution the recent global crisis situation issue and its impact regarding of mining and mineral industries through dialog and strong relationship among D-8 member country;
2. To exchange views on the latest issues, developments and trends in the fast growing areas of mining and minerals and to seek the possibility of formulating concrete D-8 cooperation programs through cooperation in industries, investments, trade, technology. And business;
3. To identify potencies, opportunities, challenges, and threats of D-8 in mining and minerals business/industries, as well as to attempt to facilitate the meeting among the stakeholders, such as government/regulators, companies, investors, private sectors and financial institutions/banks;
4. To appoint focal /contact point of the WGMM at respective member countries.
According to the ToR of the meeting, the objectives of D-8 Working Group on Mining and Minerals Meetings shall be to:
- facilitate trade and investment in the mineral sector for mutual benefits;
- enhance collaboration in research and development activities for the sustainable development of the mineral sector;
- strengthen cooperation in capacity building in the mineral sector, and
- encourage private sector participation and public-private sector collaboration in the development and/or implementation of joint D-8 member countries cooperation in programs and activities related to the sustainable development of mineral resources in the region.