Russia is Ready to Expand Geography of Natural Resources Exploration in Africa, Minister Says
17:16 09.11.2024 (Updated: 15:27 11.11.2024)
© Sputnik . Kristina Kormilitsyna
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Africa is incredibly rich in natural resources, holding approximately 30% of the world's mineral reserves, 8% of global natural gas reserves, and 12% of global oil reserves. It also boasts 40% of the world's gold, as well as the largest reserves of cobalt, diamonds, platinum, and uranium, according to the UN Environment Program.
Russia is already running several projects in Africa to search for minerals and is ready to expand the geography of geological exploration across the continent, Alexander Kozlov, Russian Minister of Natural Resources, said at the session of the first ministerial conference of the Russia-Africa Partnership Forum in Russia's Sochi.
The minister noted that Russian companies already have several projects for geological exploration in Africa – specialists of Rosgeologia, Russian state holding company for geological exploration, are forecasting and searching for deposits in Benin, Sudan, Djibouti, Angola and the Central African Republic.
"There are six more project proposals being developed in Zimbabwe, Algeria, Chad, Mozambique, Sierra Leone, and Mali. We have enough strength and competence, so we are ready to further expand our geography across the continent," he said.
Kozlov added that other Russian geological institutes are also interested in working in African countries. "And in addition to searching for minerals, they can help with research into the composition and properties of minerals and ores," the minister emphasized.
The minister pointed out that Russia is proposing to African countries, among others, to create raw material alliances, with the help of which a real opportunity will emerge to softly regulate world markets.
According to him, Russia controls 55% of the world's diamond reserves, 46% of palladium, 23% of gold. And, for example, together with South Africa, Moscow shares 83% of the world's platinum production, 77% of palladium, with the Democratic Republic of Congo - 76% of cobalt, with Morocco - 71% of phosphorus, with Mozambique - 25% of zirconium, with Botswana, Angola and South Africa - 59% of diamonds.
The Geological Platform project, which Russia has already agreed on with its BRICS partners, can serve as a basis for the formation and further implementation of raw materials alliances, Kozlov concluded.
