What natural resources are in Africa?
Africa is abundant with natural resources, including diamonds, gold, oil, natural gas, uranium, platinum, copper, cobalt, iron, bauxite and cocoa beans.
What is the most important natural resource in Africa?
Africa’s two most profitable mineral resources are gold and diamonds. In 2008, Africa produced about 483 tons of gold, or 22 percent of the world’s total production. South Africa accounts for almost half of Africa’s gold production. Ghana, Guinea, Mali, and Tanzania are other major producers of gold.
How many natural resources does Africa have?
Africa is home to some 30 percent of the world’s mineral reserves, eight per cent of the world’s natural Gas and 12 per cent of the world’s oil reserves. The continent has 40 percent of the world’s gold and up to 90 percent of its chromium and platinum.
What are the natural resources of East Africa?
East Africa. In East Africa, there are many different natural resources to be found. This includes Coal, Natural Gas, Petroleum, precious metals, minerals, and Uranium. East Africa is also notorious for having one of the biggest oil deposits in the world. Countries in this part of Africa are experiencing the highest investment levels on Earth.
What kind of minerals are found in Africa?
Two of the most profitable mineral exports are gold and diamonds. The continent can produce close to 500 tons of gold a year and is responsible for a large percentage of the world’s diamonds. Bauxite is one of the most abundant resources in West Africa.
Which is the most resource rich country in Africa?
In most of the analyses that follow, African countries are categorized as: (1) Resource-rich (oil and mineral exporters); (2) Resource-scarce; (3) Land-locked (resource-rich and resource-scarce); (4) Coastal (resource-rich and resource- scarce), and (5) The SANE group (Africa’s four larg- est economies: South Africa, Algeria, Nigeria and Egypt).
Why is Africa so dependent on natural resources?
The danger is that much of Africa is not industrialized and is stagnating in a staple trap, dependent on exports of a few mineral resources.1In particular, oil resour- ces and other point resource-dependency could, with the wrong policies, lead to this scenario.