The development of the minerals sector in ASEAN is important to the socio-economic development of the region because mining, minerals and metals form the material bases of any modern economy.  Every item of manufacture or processing or construction that is not plant- or animal-based, would have its raw material traced to mining or mineral products sourced from within and outside the region.

ASEAN is one of the largest markets in the world for the supply of mineral raw materials and ASEAN Member States are among the top global suppliers of major mineral and metal products.  Trade in minerals accounted for $250 billion or close to 9% of ASEAN’s total trade in 2018. 21% of the trade in minerals are internal ASEAN trade. 

ASEAN cooperation in the minerals sector was institutionalized back in August 2005 through a Ministerial Understanding on ASEAN Cooperation in Minerals.  This was in response to a specific mandate from the ASEAN Summit to cooperate on minerals development. The Ministerial Understanding established the future basis of cooperation which aimed to 

• develop the minerals sector to be an engine for greater economic growth and social progress in the ASEAN region, 
• enhance trade and investment in the ASEAN minerals sector, and 
• promote environmentally sound and socially responsible mineral development practices. 

The year 2005 also saw the establishment of the ASEAN Ministerial Meeting on Minerals (AMMin) and the adoption of the first ASEAN sectoral plan for minerals or the ASEAN Minerals Cooperation Action Plan 2005-2010 (AMCAP-I).  The series of five-year AMCAPs have to date served as a blueprint for ASEAN minerals cooperation and  continue to aspire towards dynamism in the ASEAN minerals sector.

Since its inception, ASEAN cooperation in minerals has a strong focus on capacity building across ASEAN Member States including in areas such as geological survey, resource assessment and mapping, mine rehabilitation and sustainable development, mineral mining licensing, mining business and investment opportunities for rare earth minerals, processing of tin and industrial minerals and geological and mineral resources development.  These capacity building initiatives have been generously supported by Member States themselves and by partner organisations and Dialogue Partner governments. 

Regional cooperation has further expanded to promoting sustainable minerals development through better monitoring, sharing and recognition of best practices, and promoting the adoption of sustainable frameworks and standards.