Judul : ASEAN's Rare-Earth Opportunity Must Not Be Missed
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ASEAN's Rare-Earth Opportunity Must Not Be Missed
Last month, US President Donald Trump's visit to Southeast Asia seemed similar to previous trips — with tariffs, strong rhetoric, and televised agreements. However, this time, he departed with more than just news coverage. In cities such as Kuala Lumpur and Hanoi, Mr. Trump signed trade agreements that offer reduced tariffs on American exports in return for collaborative projects in mining and processing rare-earth minerals essential to the global clean technology industry.
The timing was perfectly precise. Just days before, Beijing had decided to broaden export restrictions on rare-earth compounds and semiconductor materials as outlined in MOFCOM Announcement No. 61. Given that China processes approximately 92% of the world's supply, the impact was immediate — prices for NdPr oxide increased by around 40% within two months, prompting automakers to seek out magnets. Ford halted production lines in June; Volkswagen reported new delays in October.
During the Apec summit held in Busan on October 30, Mr. Trump and Chinese President Xi Jinping established a temporary agreement. Washington reduced certain tariffs by 10 percent; Beijing put the new export restrictions on hold until late 2026. For the Association of Southeast Asian Nations (Asean), this pause offers a moment of relief, yet it also serves as a reminder that the region's future in the clean-energy competition should not depend solely on choices made in Washington or Beijing.
The data reveals the situation. The trade of critical minerals within ASEAN might exceed US$32 billion (1.04 trillion baht) by 2030, but the majority of the ore is still sent to China for processing. Vietnam possesses approximately 3.5 million tonnes of reserves and operates the region's sole refinery for light rare-earth elements. Indonesia has established a Mineral Industry Agency to apply its expertise in nickel to rare-earth refining. Malaysia, Thailand, and Cambodia are also pursuing smaller projects in this area.
These changes signify a subtle yet important shift. Rare earth materials are no longer merely a specialized industrial concern. They have become a measure of regional strength. Should ASEAN develop a unified system for mining, processing, and recycling, it may establish itself as the impartial hub in a divided global economy.
Certainly, this won't be simple. Processing rare-earth elements requires significant investment and is environmentally challenging. Indonesia's nickel initiatives have already encountered resistance due to pollution and labor concerns, with few governments having established effective protections. China's initial leadership came with a substantial environmental toll; Southeast Asia needs to prevent similar outcomes. There is also the political challenge: Can ASEAN act in unison? The proposal for a Rare Earth Working Group, introduced in Busan, suggests a potential way forward—pooling around $10 billion through the Asian Development Bank for regional assessments and hydropower-powered shared refineries in Laos. This type of practical collaboration proved beneficial for the group during the pandemic.
Japan has the potential to be a game-changer. Its automotive companies depend significantly on rare-earth element imports, and its government's Free and Open Indo-Pacific strategy aligns well with Asean's efforts to diversify. Honda and Toyota are already looking into locations in Vietnam for electric vehicle battery factories. A consortium supported by Japan could provide both financial support and environmental standards, transforming Asean's mineral resources into a collaborative strategic asset instead of a point of contention.
The global need for rare earth elements is projected to triple by 2030 as electric cars, wind power generators, and clean energy storage systems become more widespread. The temporary agreement between Trump and Xi could endure for months—or collapse suddenly. Regardless, the message is evident: Southeast Asia can no longer stay a passive part of another country's supply network.
If ASEAN takes action immediately—by aligning policies, implementing environmental regulations, and developing its own processing capabilities—it can transition from being vulnerable to becoming a leader. The region missed the opportunity with the semiconductor boom years ago. It cannot afford to miss out on the rare-earth materials wave.
Provided by SyndiGate Media Inc. (Syndigate.info).Demikianlah Artikel ASEAN's Rare-Earth Opportunity Must Not Be Missed
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