28-8-2023 (JAKARTA) Member nations of the Association of South-East Asian Nations (ASEAN) are contemplating a strategic collaboration concerning critical minerals, aiming to bolster the region’s energy security. This initiative underscores the pivotal role that critical minerals will play in supporting the transition from fossil fuels to renewable energy sources, according to a senior official from Indonesia’s Energy and Mineral Resources (ESDM) Ministry.
Tri Winarno, Director of Mineral and Coal Programme Development at the ministry, highlighted the significance of critical minerals, emphasizing that they are essential raw materials for industries involved in manufacturing solar panels, wind turbines, and electric vehicle batteries. Furthermore, they are indispensable components in the construction of new and renewable energy facilities.
Winarno elucidated that critical minerals possess exceptional value due to their scarcity, limited extractability in economically viable quantities, and their irreplaceability by other metals or materials. Given their paramount importance, the demand for critical minerals is set to surge significantly. This heightened demand, on a global scale, poses a challenge to the secure supply of these vital resources.
He underscored several key challenges in managing critical minerals, including the exploration of existing deposits within the ASEAN region, mineral downstreaming, and the mastery of mineral refining technology to support downstream material processing.
In light of these challenges, Winarno emphasized the necessity for collaborative efforts among ASEAN member countries. He proposed the sharing of best practices and policies, identification of key focus areas, and the optimization of natural resources and reserves. He also stressed the importance of discussing opportunities for enhanced regional cooperation to unlock the potential of critical minerals in the region.
This discussion occurred at an Asean Energy Business Forum (AEBF) side event titled “Critical Minerals: Opportunities And Challenges For Asean,” held in Nusa Dua Bali on Friday, where the importance of these minerals in the context of the energy transition was underscored.
