Forum for East Asia-Latin American Cooperation (FEALAC)

The Forum for East Asia-Latin American Cooperation (FEALAC) is a regional organization that connects states from East and Southeast Asia to Latin America and the Caribbean, encompassing 36 countries. The goal is to create a space for international cooperation so countries can have meaningful dialogue and collaboration, specifically in the realm of economic development. FEALAC includes countries from both East Asia and Latin America, as well as Australia, New Zealand, and some others from outside the specified regions.

Topic: The Future of Rare Earth Mineral Mining

Earth mineral mining is a significant industry in both regions due to the increasing demand for these minerals in the technology, clean energy, and defense sectors, critical minerals including copper, lithium, nickel, cobalt, and rare earth elements. China dominates the global rare earth market, and it accounts for 70% of global rare earth mined and 90% of global rare earth processing capacity. Countries like Brazil and Chile are trying to expand their production. However, China remains the top export destination for many countries. Mining for these minerals can be done in two ways: terrestrial mining or ocean mining. Countries have started deep sea mining in order to keep up with the demand for critical minerals. China holds the lead in deep sea mining, but countries such as Japan and South Korea have shown an interest in developing their deep sea mining technologies. Latin America is more focused on terrestrial mining. The growing global demand for critical minerals presents opportunities for delegates to collaborate, as Latin America offers resources and East Asia offers technology. 

Background guide coming soon!