Critical Minerals Management and Strategy for Sustainable Environment in ASEAN

Country / jurisdiction: Korea · Year: 2024 · Status: In force · Level: National · Type: Voluntary

The "Critical Minerals Management and Strategy for Sustainable Environment in ASEAN" project is a USD 5.6 million collaboration between ASEAN and South Korea, focused on developing critical mineral capabilities across Southeast Asian nations through 2026.

The management of critical minerals has become increasingly important for industrial development and economic growth in Southeast Asia. This project emerges from the established ASEAN-Korea partnership and is funded through the ASEAN-Korea Cooperation Fund (AKCF). The initiative brings together multiple regional organisations, including the Coordinating Committee for Geoscience Programmes in East & Southeast Asia (CCOP) and the Korea Institute of Geoscience & Mineral Resources (KIGAM), with the Geological Agency of Indonesia serving as a key partner.

The project encompasses several key components, including capacity-building workshops, training programmes, and database development. Implementation began in July 2024 with two inaugural workshops: a three-day Technical Workshop and a two-day Database Workshop. The initiative focuses on enhancing technical capabilities, developing specialised personnel, and establishing comprehensive databases for critical minerals across ASEAN member states. The programme structure involves collaboration between government officials and young professionals from participating nations.

This initiative aims to strengthen the ASEAN region's position in global mineral markets by ensuring stable supply chains for critical minerals and enhancing technical expertise. The project creates a framework for knowledge sharing and capacity building across member states, potentially leading to improved resource management practices. Through systematic development of expertise and infrastructure, the programme seeks to support both environmental sustainability and economic growth objectives within the ASEAN region whilst fostering stronger ties between ASEAN nations and South Korea in the critical minerals sector.

Official source: https://www.aseanrokfund.com/our-works/asean-korea-collaborative-initiative-critical-minerals-management-and-strategy-for-sustainable-environment-in-asean