Korea prior to the 2nd Meeting of the APEC Ministers Responsible for Mining Summary Record
Leaders of mining companies and representatives of mining organizations gathered to promote the cooperative relationships in between the leaders in the mining sector among the APEC economies on October 19th, 2005 in Gyeongju, Korea prior to the 2nd Meeting of the APEC Ministers Responsible for Mining.
This meeting was attended by representatives from 45 mining companies and organizations in 12 countries. Many government officials attended the meeting as well.
Mining companies attended this meeting express their appreciation to Republic of Korea for hosting the kind of meeting. And they agree featuring the meeting seems righteous in time from the point of view based on recent mineral market instability.
This meeting served as stepping stone for promoting the cooperative relationships including information exchange and, investment and trade facilitation in mining sector among the APEC economies. Also, they adopted the proposal to the mining ministers from the fruitful discussion based on the common understanding of sustainable development of mining in APEC region.
The meeting was consisted of 4 parts. In the first session, the draft proposal to the mining minsters was suggested. Then, two topics, "Korea's Overseas Mineral Exploration & Development Activities" and "Nonferrous metal recycling in Korea" were presented by Korea Resources Corporation and Korea Institute of Geoscience and Mineral Resources respectively.
In the presentation of "Korea's Overseas Mineral Exploration & Development Activities", the current situations of Korean companies' investment on overseas mineral resources were explained; in addition, the intention of expansion of investment on overseas mineral resources, especially in APEC regions. In the presentation of "Nonferrous metal recycling in Korea", the current status of nonferrous metal recycing in Korea and outlook were presented.
The second session was formatted by the presentations of consuming economies. LS-Nikko Copper Inc, which is operating one of the most respectable smelters in the world presented "Present and Future of Onsan Smelter". Then, POSCO, which is so well-known that little introduction is necessary gave the presentation about "POSCO and its Raw Materials".
LS-Nikko Cooper Inc. presented the vision of Onsan smelters and POSCO gave a brief introduction of the company and the supply and demand situation of raw materials.
Following the presentation by consuming economies, the third session was consisted of presentations of producing economies. Firstly, Ministry of Land and Resources in China presnted about "The Potential and Achievement of Mineral Exploration in China";
Secondly, Mr. Benjamin Roumualdez, who is a president of Benguet Corporation and Chairman of Chamber of Mines in Philippines gave a presentation about "Mining Investments Opportunities in Philippines".
Thirdly, the Government of Yukon Territory of Canada presented "Overview of Mineral Resources Development Opportunities in Yukon".
Lastly, guest speaker, Mr. Kazuo Kitazawa who is an expert of copper from Nippon Mining Reserach & Technology in Japan gave us a presentation about "Copper Situation in Big Asia".
It was an excellent opportunity for China, Philippines and Canada to introduce their prospective mining projects and to attract the investors. Also, all participants could extend the boundaries of knowledge about copper industry.
In the last session, the floor was open for discussion for adopting the proposal to the mining ministers.
Following the Business Dialogue, which was held of part of the 2nd APEC Meeting of Ministers Responsible for Mining among the leaders of mining related companies and government organization in APEC economies agreed that the installment of periodic meeting to promote the mutual cooperation among the business sectors; to propose the issues that can be discussed in the mining ministerial meeting, and to provide advice on mining related issues in the mining ministerial meeting.
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