Mines minister Keo Rattanak addresses the 9th ASEAN Ministerial Meeting on Minerals on November 23. Heng Chivoan
Minister of Mines and Energy Keo Rattanak has called for robust cooperation among ASEAN members in the mining industry. He also urged open dialogue and responsible investment in the sector.
He issued his calls while addressing the 9th ASEAN Ministerial Meeting on Minerals, held in Phnom Penh on November 23.
.jpg)
“In this vein, I urge stronger cooperation among ASEAN countries in terms of the exchange of information and experiences,” he said.
“Open dialogue and responsible investment in mining are essential as we continue to successfully implement the current ASEAN minerals cooperation action plan – two years into its adoption, we have accomplished nearly half of its action plans, a milestone that reflects our collective dedication and effort.
“Together, we can foster a mineral sector that is profitable and also respects environmental standards and social responsibilities,” he added.
He noted that success against climate change hinges on global cooperation in resource sharing, saying that the politicisation of critical mineral supplies is counterproductive and unacceptable. Ensuring an equitable and uninterrupted supply of these resources is crucial for individual nations and the global community’s fight against climate change.
Looking forward, the minister suggested that the proposed ASEAN principles on sustainable minerals development will set a benchmark for the region, and align with the highest international standards.
“Adopting these principles – along with the ASEAN minerals exploration strategy – demonstrates the region’s commitment to sustainable practices and opens new opportunities for ASEAN’s mineral-rich countries amid the global green transition,” he said.
He added that this step towards sustainability is complemented by the innovative financial mechanisms which are now emerging, saying that the rise of sustainability-linked bonds and other financing mechanisms presents attractive investment options in sustainable practices.
“By leveraging this financial shift, we can enhance the region’s appeal for foreign direct investment and strengthen our role as a leader in responsibly sourced minerals,” he continued.
Rattanak also stressed Cambodia’s commitment to continuing to focus on enhancing the mineral sector, involving the promoting of investment in extractive industries, identifying potential mineral areas, and improving governance in resource management.
“Efforts are also being made to uplift local communities, and reduce environmental and social impacts, in line with our national policy on mineral resources 2018-2028,” he said.
At the regional level, Cambodia has worked closely with the ASEAN inter-governmental forum on the mineral policy framework, with a focus on enhancing mineral policy cooperation and contributing to sustainable mineral development, and trade investment capacity building.
“We are committed to supporting dialogue that advances responsible mining and investment in the region while facilitating knowledge-sharing and policy discussions,” Rattanak said.
Addressing the event, ASEAN secretary-general Kao Kim Hourn underscored ASEAN’s commitment to enhancing the region’s attractiveness as a sustainable investment destination.
Kim Hourn reaffirmed that sustainable resource development and environmental initiatives remain a cornerstone of ASEAN’s strategy to respond to the rising minerals demand which is driven by the global transition towards low carbon technologies, twin energy, and digital revolutions.
