APEC 2018 Papua New Guinea Mining Week
APEC 2018 Papua New Guinea Mining Week will take place in PNG in a few week’s time. Commencing on Monday, 20 August there will be a range of activities including mining officials’ meetings, a dialogue with the private sector and a planned mining ministerial meeting bringing together Mining Ministers from the 21 APEC economies. The week will conclude with a visit to Newcrest’s Lihir mine.
What is APEC?
APEC is the Asia-Pacific Economic Cooperation and it is made up of 21 member economies in the Asia Pacific. It is a regional trade organization with the aim of bringing the Asia-Pacific region closer together, reducing trade barriers, and smoothing out differences in regulations to boost trade, leading to an increase in prosperity. APEC was formed in 1994 and at that time it developed the Bogor Declaration which stated APEC’s objective of free and open trade by 2020. Australia is often credited with the formation of APEC.
You can read more on APEC - https://www.apec.org/.
Overview of APEC 2018 PNG Mining Week
APEC 2018 Mining Week in PNG will be centered around Port Moresby. With the theme of Embracing Inclusive and Sustainable Mining (and Development) in the Digital Age, the week will kick off with a workshop addressing a range of issues from mine closure to women in mining and small scale mining. Our own Chris Gibbs Stewart, CEO of Austmine, will be making a presentation about the METS sector development project we worked on with the economies of PNG, Peru and Chile.
Austmine will also be holding a Networking Event on the night of Monday, 20 August.
Following the workshop, there will be a public-private dialogue where private sector representatives and government mining officials will have the opportunity to discuss a range of mining industry challenges. Issues central to discussion will be harnessing technology, safety, sustainability, infrastructure development, inclusive growth and communicating the value of the mining industry. Several Austmine members including Hastings Deering, GE Mining, CAT, SMEC and D4G will be presenting and leading various discussion along with Chris.
The Mining Task Force (MTF) meeting will be held mid-week. The task force brings together mining officials from the 21 economies and its aim is to create closer cooperation, foster innovation driven growth and ensure socially responsible and common development principles. There are a number of interesting projects that the MTF oversees with funding provided by Australia in 2015.
A high-level Mining Ministerial will also be held, and Minister Matthew Canavan will attend this important forum. The Ministers will discuss a range of issue including affirming the 10 APEC Mining Policy Principles which are:
i. Pursue policies that enhance the sustainable production, trade and consumption of minerals and metals thereby improving the economic and social wellbeing of our people.
ii. Foster regular exchange between member economies about experiences with regulations, policies and practices and about significant developments in each economy's minerals and metals sector.
iii. Promote the best possible functioning of global markets for minerals and metals, through support for market transparency and facilitation of trade. Export restrictions should be employed only in exceptional cases, and in accordance with WTO rules.
iv. Foster investment certainty in the APEC minerals sector through the pursuit of open minerals and metals markets and the articulation of clear and predictable investment policies.
v. Promote cost effective, evidence based, transparent and objective-based measures which improve the efficiency in the regulation of the minerals industry to contribute to economic, environment and social development outcomes.
vi. Encourage, support and promote initiatives by the minerals and metals industry and stakeholders that contribute to national and international sustainable development goals.
vii. Encourage research to develop and apply new minerals exploration, extraction, and pollution control technologies that are more cost effective, efficient, economically sound, environmentally responsible and socially acceptable. Promote information exchange and cooperation on such technologies.
viii. In partnership with all life cycle participants, ensure that materials and products made from minerals and metals are produced, consumed, recycled or disposed of in a responsible manner.
ix. Encourage all participants in the life cycle of a material or product to take direct responsibility for their area of action, and a shared concern over other stages of the life cycle.
x. Support capacity building activities for sustainable development so that all APEC Economies are able to maximise the benefits and minimise the impacts from minerals resource development.
What is Austmine’s Role
Austmine has been actively working in APEC since 2015. Our aim in doing this is to raise the profile of the METS sector and its importance within the APEC mining economies. Included in our messaging, of course, is the importance of technology and innovation in mining and the value of collaboration. In fact, we are making good headway with this as evidenced by the Mining Task Force now using regularly the word METS and including METS in their yearly plan. Our participation is also focused on making very relevant contacts for our members and identifying opportunities – both from a macro and micro point of view - to share as relevant.
Australia has a key leadership role to play when it comes to mining given the dominance of our minerals industry and our world-leading technology and innovation driven by our METS sector. APEC is a very important forum for our industry as the 21 member economies produce and consume 70% of global mineral output. The MTF is also a very important forum to raise and address critical issues facing our industry, and we will continue to support its work and be actively involved.
For more information on APEC contact Chris Gibbs Stewart, CEO, Austmine firstname.lastname@example.org.