Buried under the surface of Africa is a fortune, unimaginable wealth of a higher value. The extractable natural resources found make Africa one of the most reliable mining Industries in the world.
Africa alone is a major producer of the most expensive minerals in the world. We are talking of gold, diamond, iron, coal, cobalt, Copper, etc.
It is believed that the continent harbors approximately 30% of the world’s mineral reserves and in 2020 alone, it accounted for 12% of global mineral production. This is so because it is the second largest mineral industry across the globe and it has roughly been a driving force for so many African country’s economy.
Large mining operations have not only benefited governments but also foreign companies who are still harnessing more and more profits on each passing day
Being the second largest industry on the globe, the African mining Market connects suppliers and buyers and is the Premier source of information on mining with countries like Ghana, Nigeria, South Africa, and Zimbabwe topping the mining list.
However, to answer the question above, Dr. NOEL JANNA who graduated with a degree in geology from the international university of Africa has the answer, this is what he said.
“Yes, the mining industry in Africa is viable. Of course, there is a lot of work to be done to make it more sustainable economically”
Then he said, “But this can only happen if a number of things are put in place. The industry has the potential to change the landscape of the continent. Challenges like poor infrastructure, unconducive environments such as corruption, irresponsible mining, outdated mining frameworks, and political instability. The idea is to minimize the risks in order to benefit Africa and contribute to sustainable development.
We can all agree that mining is undeniably a major and key contributor to different African countries’ economies. Below are some of the countries hugely benefiting from it
The Republic of Ghana
Referred to as the Gold Coast, Ghana, a country found in West Africa, is an exceptionally flourishing gold Market in Africa. For instance, in 2018, Ghana overtook South Africa as the largest gold producer and as of 2020, gold accounted for about 48.4% of gross merchandise exports (GME). Ghana’s mining industry has witnessed vast improvements in its industry regulations and skilled labor force. Its move towards the usage of greener energy sources for mining has beckoned many Global Investors as well. Despite Gold being the focus of Ghana’s mining, Ghana also produces bauxite, diamond, Natural Gas petroleum, and manganese on large scales.
MALI
Mali, the home for over 100 artisan gold-mining sites has been booming Improvement of its economy over the years. With a gold-dependent economy, the country has supported a number of developments locally. It is a fact that through this gold trade, Mali has spurred entrepreneurship among the local residents as well.
Sudan
Despite Global restrictions and sanctions imposed on the country over the past years, Sudan remains one of the producers of gold. In 2022 alone, Sudan recorded the highest gold production of more than 18 tons. While this is so, Sudan also exports chromite, petroleum, and crude petroleum around the globe, accounting for a substantial contribution to the country’s economy.
All in all, Africa at large has the potential to develop itself. We have all witnessed how other continents have used mining to their own benefit.it is now the time for governments, companies, individuals, and every other stakeholder interested in this industry to seize this opportunity. I can surely guarantee you success
