FFA Report: ASEAN Nations Lose Out on Critical Minerals Value Chains
Phnom Penh – September 29, 2026 -- Cambodia, Indonesia, the Philippines, and Thailand are shipping raw critical minerals abroad while processing and value capture happen elsewhere, according to a new report from Fair Finance Asia (FFA) and research partner Profundo.
Local-benefit clauses are consistently absent from mining agreements
The report, titled Extraction to Equity, examined critical minerals trade agreements and memoranda of understanding (MoUs) across the four ASEAN states using public data through December 2025. It found that local-benefits clauses, sustainability standards, and equitable value-sharing provisions were consistently missing, leaving source countries without leverage to demand better terms.