APEC Mining Ministers Meeting Launched

Australian Industry, Tourism and Resources Minister Ian Macfarlane today launched the third Asia Pacific Economic Cooperation Mining Ministers' forum in Perth, the first APEC meeting for 2007.

"It's fitting that the Mining Ministers are meeting in Western Australia, a resource-rich state that accounts for over half of Australia's national mining investment and continues to demonstrate mining development success," Mr. Macfarlane said.

"The APEC region accounts for more than 70 per cent of the world's mineral resource development and trade and many APEC economies derive important economic benefits from the extraction, trade and use of minerals and metals.

"The region's challenge is to ensure that mineral resource development remains profitable and aligns with community expectations for sustainable development, and that's what this week's forum is all about.

"The theme for the forum is APEC - Improving leading practice sustainable development in mining."

Mr. Macfarlane said the forum provides the opportunity to discuss major impediments to investment in the APEC region and to increase collaboration amongst the region's mining communities.

"Ministers will discuss and debate items such as global supply and demand in minerals and metals markets, effective governance and streamlining regulation, and the implementation of sustainable development initiatives.

"Industry, environmental and social leaders will be able to influence and inform Ministerial discussions and share leading practices in the mining sector."

"The forum has attracted more than 300 attendees, including Ministers, from 19 of the 21 APEC economies, and 34 high level stakeholders, from the region's mining and resources industry as well as environmental and social groups."

As the Australian Minister for Industry, Tourism and Resources, Minister Macfarlane is hosting the forum, the first of the APEC Ministerial meeting rounds.

Further information about MRM3 is available at: www.mrm3.apec.org