https://en.sputniknews.africa/20240529/africas-mineral-wealth-top-10-producers-driving-economic-growth-1066792724.html
Africa's Mineral Wealth: Top 10 Producers Driving Economic Growth
Africa's Mineral Wealth: Top 10 Producers Driving Economic Growth
Sputnik Africa
Africa, a continent brimming with natural resources, holds vast reserves of minerals crucial to global wealth generation, commodity production, and... 29.05.2024, Sputnik Africa
2024-05-29T18:39+0200
2024-05-29T18:39+0200
2024-05-29T18:39+0200
south africa
algeria
nigeria
egypt
angola
zimbabwe
gabon
democratic republic of the congo (drc)
ghana
libya
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Africa boasts approximately 30% of the world's mineral reserves, according to the Economist Intelligence Unit. While some countries are renowned for their oil, others excel in diamonds, gold, copper, cobalt, coal, iron ore, uranium, and more.South Africa, Nigeria, Algeria, Angola, and Libya together account for over two-thirds of Africa's mineral wealth, primarily due to their vast oil reserves, with South Africa also being a significant producer of gold and other precious metals.High prices for commodities like copper, oil, iron ore, aluminum, and gas are fueling investment and boosting economic development across the continent. This export boom is driven by strong demand and increased commodity prices.Despite the potential risks posed by rapid price increases and inflationary pressures, Africa remains a key exporter of various commodities.Here are the top 10 mineral-producing countries in Africa in 2022, based on their export volume and revenue generation:1. South Africa - Gold, Manganese, Platinum, others: $124.96 billion2. Nigeria - Oil, Iron Ore, Columbite, others: $52.69 billion3. Algeria - Hydrocarbons: $38.70 billion4. Angola - Diamond, Gold, Oil, others: $32.04 billion5. Libya - Oil, Clay, Cement, Salt, others: $27.03 billion6. Egypt - Gold, Copper, Silver, others: $23.22 billion7. Ghana - Gold, Limestone, Iron Ore, others: $14.97 billion8. Democratic Republic of Congo - Gold, Copper, Cobalt, others: $13.69 billion9. Gabon - Manganese, Iron Ore, Uranium, others: $10.92 billion10. Zimbabwe - Platinum, Chrome, Coal, Gold, others: $9.77 billionThese countries represent a significant portion of Africa's mineral wealth, driving economic growth and highlighting the continent's potential as a major global resource provider.
south africa
algeria
nigeria
egypt
angola
zimbabwe
gabon
democratic republic of the congo (drc)
ghana
libya
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south africa, algeria, nigeria, egypt, angola, zimbabwe, gabon, democratic republic of the congo (drc), ghana, libya, mining, minerals, gold miners, gold, diamonds, oil, gas
south africa, algeria, nigeria, egypt, angola, zimbabwe, gabon, democratic republic of the congo (drc), ghana, libya, mining, minerals, gold miners, gold, diamonds, oil, gas
Africa's Mineral Wealth: Top 10 Producers Driving Economic Growth
Muhammad Nooh Osman
Writer/Editor
Africa, a continent brimming with natural resources, holds vast reserves of minerals crucial to global wealth generation, commodity production, and technological advancement. From oil to cobalt, the continent's mineral riches have driven economic prosperity for many African nations, with some standing out as major producers.
Africa boasts approximately 30% of the world's
mineral reserves, according to the Economist Intelligence Unit. While some countries are renowned for their oil, others excel in diamonds, gold, copper, cobalt, coal, iron ore, uranium, and more.
South Africa, Nigeria, Algeria, Angola, and Libya together account for over two-thirds of Africa's
mineral wealth, primarily due to their vast oil reserves, with South Africa also being a significant producer of gold and other precious metals.
High prices for commodities like copper, oil, iron ore, aluminum, and gas are fueling investment and boosting economic development across the continent. This export boom is driven by strong demand and increased commodity prices.
Despite the potential risks posed by rapid price increases and inflationary pressures, Africa remains a key exporter of various commodities.
Here are the top 10 mineral-producing countries in Africa in 2022, based on their export volume and revenue generation:
1. South Africa - Gold, Manganese, Platinum, others: $124.96 billion
2. Nigeria - Oil, Iron Ore, Columbite, others: $52.69 billion
3. Algeria - Hydrocarbons: $38.70 billion
4. Angola - Diamond, Gold, Oil, others: $32.04 billion
5. Libya - Oil, Clay, Cement, Salt, others: $27.03 billion
6. Egypt - Gold, Copper, Silver, others: $23.22 billion
7. Ghana - Gold, Limestone, Iron Ore, others: $14.97 billion
8. Democratic Republic of Congo - Gold, Copper, Cobalt, others: $13.69 billion
9. Gabon - Manganese, Iron Ore, Uranium, others: $10.92 billion
10. Zimbabwe - Platinum, Chrome, Coal, Gold, others: $9.77 billion
These countries represent a significant portion of Africa's mineral wealth, driving economic growth and highlighting the continent's potential as a major global resource provider.
