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The Market - Africa Mineral Industry
The mineral industry of Africa is one of the largest mineral industries in the world. Africa is the second biggest continent, with 30 million km² of land, which implies large quantities of resources. For many African countries, mineral exploration and production constitute significant parts of their economies and remain keys to economic growth. Africa is richly endowed with mineral reserves and ranks first or second in quantity of world reserves of bauxite, cobalt, industrial diamond, phosphate rock, platinum-group metals (PGM), vermiculite, and zirconium. Gold mining is Africa's main mining resource.
African mineral reserves rank first or second for bauxite, cobalt, diamonds, phosphate rocks, platinum-group metals (PGM), vermiculite, and zirconium. Many other minerals are present in quantity.
The 2005 share of world production from African soil was bauxite 9%; aluminium 5%; chromite 44%; cobalt 57%; copper 5%; gold 21%; iron ore 4%; steel 2%; lead (Pb) 3%; manganese 39%; zinc 2%; cement 4%; natural diamond 46%; graphite 2%; phosphate rock 31%; coal 5%; mineral fuels (including coal) and petroleum 13%; uranium 16%.
Organization promoting exports
The mineral industry is an important source of export earnings for many African nations. To promote exports, groups of African countries have formed numerous trade blocs, which included the Common Market for Eastern and Southern Africa, the Economic and Monetary Community of Central Africa, the Economic Community of Central African States, the Economic Community of West African States, the Mano River Union, the Southern African Development Community, and the West African Economic and Monetary Union. Algeria, Libya, and Nigeria were members of the Organization of the Petroleum Exporting Countries (OPEC). The African Union was formally launched as a successor to the Organization of African Unity in 2002 to accelerate socioeconomic integration and promote peace, security, and stability on the continent.
Key producers
As of 2005, strategic minerals and key producers were:
Diamonds : 46% of the world, divided as Botswana 35%; Congo (Kinshasa) 34%; South Africa 17%; and Angola, 8%.
Gold : 21% of the world, divided as South Africa 56%; Ghana 13%; Tanzania 10%; and Mali 8%.
Uranium : 16% of the world, divided as Namibia 46%; Niger 44%; and South Africa less than 10%.
Bauxite (for aluminium) : 9% of the world, divided as Guinea 95%; and Ghana 5%.
Steel : 2% of the world, divided as South Africa 54%; Egypt 32%; Libya 7%; and Algeria 6%.
Aluminium : 5% of the world, divided as South Africa 48%; Mozambique 32%; and Egypt 14%.
Copper (mine/refined) : 5% of the world, divided as Zambia 65% to 77%; South Africa 15% to 19%; Congo (Kinshasa) 13%; and Egypt 3%.
Platinum/Palladium : 62% of the world, divided as South Africa 96%.
Coal : 5% of the world, divided as South Africa 99%.
Dependence of African countries
Many African countries are highly and dangerously dependent of such exports. Mineral fuels (coal, petroleum) account for more than 90% of the export earnings for Algeria, Equatorial Guinea, Libya, and Nigeria. Minerals account for 80% for Botswana (led by, in order of value, diamond, copper, nickel, soda ash, and gold),Congo (Brazzaville) (petroleum), Congo (Kinshasa) (diamond, petroleum, cobalt, and copper), Gabon (petroleum and manganese), Guinea (bauxite, alumina, gold, and diamond), Sierra Leone (diamond), and Sudan (petroleum and gold). Minerals and mineral fuels accounted for more than 50% of the export earnings of Mali (gold), Mauritania (iron ore), Mozambique (aluminium), Namibia (diamond, uranium, gold, and zinc), and Zambia (copper and cobalt).
The mineral industry's export make an important part of the African gross income. Ongoing mining projects of more than USD$1 billion are taking place in South Africa (PGM 69%; gold : 31%), Guinea (bauxite and aluminium), Madagascar (nickel), Mozambique (coal), Congo (Kinshasa) and Zambia (cobalt and copper), Nigeria and Sudan (crude petroleum), Senegal (iron), and many others.