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The Mineral Industries of Asia and the Pacific in 2006

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The Mineral Industries of Asia and the Pacific in 2006 2006 Minerals Yearbook ASIA AND THE PACIFIC U.S. Department of the Interior April 2009 U.S. Geological Survey THE MINERAL INDUS T RIES OF ASIA AND T HE PACIFIC By Yolanda Fong-Sam, Chin S. Kuo, Pui-Kwan Tse, David R. Wilburn, and John C. Wu The Asia and the Pacific region, which includes 31 countries steel, lead, natural gas, crude petroleum, tin, and zinc. India, and territories, has a total area of about 29.9 million square Indonesia, the Republic of Korea, Malaysia, Singapore, Taiwan, kilometers, which accounts for about 20% of the world total. Thailand, and Vietnam also were important consumers of such The total population was about 3.63 billion, which accounted mineral commodities as aluminum, cement, copper, gold, iron for about 56% of the world total in 2006. China and India, ore, lead, phosphate rock, silver, steel, and zinc. which were the world’s two most populous countries, accounted for 67% of the region’s total population and about 37% of the Acknowledgments world’s total population. The economies of Bhutan, Cambodia, China, India, and Mongolia were the fastest growing in the The U.S. Geological Survey (USGS) acknowledges and region in 2006 (table 1, 2). thanks the following foreign Government agencies, international Australia and China were among the world’s leading mineral institutions, and private research organizations for providing producers. Australia has large resources of bauxite, coal, cobalt, mineral-production statistics, basic economic data, and copper, diamond, gold, iron ore, lead, lithium, manganese, exploration and mineral-related information: mineral sands, tantalum, and uranium. China has large resources For mineral production statistics— of antimony, arsenic, barite, coal, fluorite, gold, graphite, iron • Australia—Australian Bureau of Agricultural and Resource ore, magnesium, rare earths, strontium, tin, tungsten, and zinc. Economics (ABARE) and Western Australia Department of India also was one of the world’s significant mineral producers Minerals and Petroleum Resources; and has large resources of barite, bauxite, chromium, iron ore, • Bhutan—Ministry of Trade and Industry, Department of manganese, rare earths, and salt. Other significant mineral Geology and Mines; producers in the region were Indonesia, which has large • Brunei—Prime Minister’s Department, Petroleum Units; resources of coal, copper, gold, nickel, and tin; Mongolia, which • Cambodia—Ministry of Industry, Mines and Energy, has large resources of copper, fluorspar, and molybdenum; Department of Mineral Resources Development; Papua New Guinea, which has large resources of copper and • India—Indian Bureau of Mines; gold; the Philippines, which has large resources of copper, gold, • Japan—Ministry of Economy, Trade and Industry, Research and nickel; and Thailand, which has large resources of feldspar, and Statistics Department; gypsum, and potash. • Republic of Korea—Korea Institute of Geoscience and Despite the large amount and wide variety of resources of Mineral Resources; nonfuel minerals and coal in Australia, China, India, Indonesia, • Laos—Ministry of Industry and Handicraft, Department of Mongolia, Papua New Guinea, the Philippines, and Thailand, Geology and Mines; the regional supplies of numerous nonfuel minerals [including • Malaysia—Ministry of Natural Resources and Environment, aluminum, bauxite, copper, diamond, gold, iron ore, lead, Minerals and Geoscience Department; platinum-group metals (PGM), phosphate rock, silver, and • Mongolia—Mineral Resources and Petroleum Authority; zinc] and such major mineral fuels as coal, natural gas, crude • Nepal—Ministry of Industry, Commerce and Supplies, petroleum, and refined petroleum products, were insufficient Department of Mines and Geology; to satisfy the demand in the region. The situation was caused • Sri Lanka—Geological Survey and Mines Bureau; largely by a substantial increase in the consumption of nonfuel • Thailand—Ministry of Industry, Department of Primary minerals and mineral fuels by China and India; by such Industries and Mines; and resource-poor industrialized countries as Japan, the Republic of • Vietnam—Vietnam Institute of Geosciences and Mineral Korea, Singapore, and Taiwan; and by the growing economies Resources. of such middle-income developing countries as Indonesia, For key economic data— Malaysia, and Thailand. The Middle Eastern and Africa regions • Asian Development Bank in Manila, the Philippines; supplied a large percentage of the Asia and the Pacific region’s • International Monetary Fund in Washington, DC; and requirements for natural gas, crude petroleum, and refined • The World Bank in Washington, DC. petroleum products. Africa, North America, and South America For exploration and other mineral-related information— supplied a substantial percentage of the region’s raw material • Australian Bureau of Statistics in Canberra, Australia; and requirements for ferrous and nonferrous metals. • Metals Economics Group in Halifax, Nova Scotia, Canada. China and Japan were the two major regional markets for crude and processed minerals. Japan was the region’s leading General Economic Conditions consumer of ferrous and nonferrous metals because of its large manufacturing sector and its poor indigenous resources. Economic developments in the Asia and the Pacific region China, however, remained the region’s leading consumer in have been significant. Increased domestic consumption led to terms of growth in consumption, especially for such mineral strong growth in such countries as China, Cambodia, India, commodities as aluminum, cement, coal, copper, iron and and Mongolia. Exports remained an important driving force ASIA AND THE PAcific—2006 1.1 of activity in such countries as Australia, China, Japan, the a possible amendment to the Mines and Minerals Development Republic of Korea, Singapore, and Taiwan. According to the and Regulation Act. The purpose was to make the provisions of International Monetary Fund, financial systems in the Asia the Act more in accord with international practice, streamline and the Pacific region appeared well placed to handle the and simplify the procedures for the granting of mineral effects of the U.S. housing credit crunch that began in late concessions, strengthen the infrastructure for mining activities, 2006. Also, most Asia financial institutions were relatively and improve the climate for investing in the mining sector. unsophisticated compared with those in the developed countries, In Mongolia, the Parliament approved an additional profit tax and their exposure to the problems associated with subprime on copper and gold that requires companies that export copper mortgages in the United States was limited. The subprime and gold to pay a tax rate of 68% when the copper price exceeds mortgage crisis in the United States was still unraveling and $2,600 per metric ton and the gold price reaches $500 per troy was expected to slow down the U.S. economy significantly ounce on the London Metal Exchange. The intention of the in 2008; this slowdown could affect economic growth in such windfall tax was to encourage companies to add value to copper exporting countries as Japan, the Republic of Korea, Singapore, concentrates through the construction of a copper smelter in and Taiwan. Domestic consumption in such countries as China, Mongolia. India, and Vietnam was expected to continue to sustain growth In Vietnam, the Ministry of Industry had drafted and as the value of exports continues to decline. Economic growth submitted for final Government approval a list of 11 key in the Asia and the Pacific region was expected to remain strong industries and policies to encourage the development of these because of the improved macroeconomic policies put in place industries during the next 5 years (2006-10). Bauxite mining, during the past decade; this improvement was evidenced by aluminum processing, and steel manufacturing were among the declining debt burdens and increases in the current account 11 key industries. balances, fiscal balances, and foreign reserves, which, in turn, are likely to provide Asia authorities with even greater Legislation policy flexibility to cope with the weakening external demand (International Monetary Fund, 2007, p. 7). In Australia, the Government introduced two pieces of The economies of the developing Asian countries were legislation to amend the Aboriginal Land Right (Northern expected to continue to perform better than the developed and Territory) Act and the Native Title Act. More than 60% of newly industrialized Asian countries. Developing economies Australian mining operations have neighboring indigenous in the Asia and the Pacific region were expected to expand communities. The Native Title Act is designed to facilitate the by 7.6%, and the developed economies in the region were development of mutually beneficial agreements between the projected to grow by 1.6% in the next 2 years. Exports could mining industry and indigenous communities in ways that do suffer from the slower growth in industrial countries and, not diminish indigenous rights or interests. The Aboriginal Land coupled with the continued increase in domestic demand, Right Act was enacted to maintain the inalienability of land the contribution of exports to the overall economic growth of claims under aboriginal land rights and to uphold the traditional export-dependent countries of East Asia and Southeast Asia owner’s right to withhold consent to exploration companies. was expected to decrease. In countries where domestic demand It
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