Investors consider Africa as main home of precious mineral commodities
Bulawayo-Africa is main home of many key mineral commodities, with bountiful reserves of metals and minerals such as gold, diamond, cobalt, bauxite, iron ore, coal, and copper across the continent Which means if Africa really utilize its natural resources in the manner UAE had done it has a potential to have many commercial hubs which will be replica to Dubai.
The first stepping stone for Africa into Wealth zone is its human capital who are the youth harmonized with mineral resources the continent is having. Africa need to tape into the potential of the natural resources endowed in it. The continent is slowly coming up filling the vacuum of leadership crises. Issue of leadership determines progress of a nation.
There is a town known as the diamond city in India because of its diamond processing and business. Over ninety percent of the world’s diamonds are cut and polished in India, and at the heart of this industry lies the city of Surat. Africa can have mineral hubs which will replica the town of Surat.
Africa is the third-largest gold producing continent in the world, and has gold mining activities in more than 21 of its countries. Ghana, one of the world’s leading countries in gold production, and the number one producer in Africa, produced approximately 150 metric tons of gold in 2020.
The African continent has dominated the world’s platinum production over the years with South Africa leading the way. In 2018, the world’s total production of platinum was 160 metric tonnes (mt), with South Africa being the leading producer of the metal, according to a report published by the US Geological Survey.
The continent of Africa is home to some of the top diamond producing nations with most of the world’s gem-quality diamonds mined there since the 1870s.
Here is NS Energy’s list of Africa’s top five diamond mining countries by volume of production.
Democratic Republic of Congo
The Democratic Republic of the Congo is by far the leading producer of cobalt in Africa, and is estimated to have produced 64,000 metric tons of this material in 2016. Madagascar was the second-largest cobalt producer in Africa that year, with production estimated at 3,800 metric tons. Congo supplies over 70% of the world’s cobalt but almost 10% of that comes from miners digging by hand at unregulated sites.
Rich in oil and natural resources, the continent holds a strategic position. Rich in oil and natural resources, Africa is the world’s fastest-growing region for foreign direct investment. It has approximately 30 percent of the earth’s remaining mineral resources.
Enos Denhere is a Freelance Journalist and Entrepreneur based in Zimbabwe. He is looking for Funding Companies, Sovereignty Wealth Fund, Mining investors and mining equipment manufacturing Companies interested to invest in mining business in Africa. Enos Denhere is interested to be your Business Representative sourcing projects, doing negotiations and strategies on your behalf. Email email@example.com Call/WhatsApp +263773894975
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Source: africaneditors.com / Enos Denhere