Africa produces more than 60 metal and mineral products and is a major
producer of several of the worlds most important minerals and metals including
Gold, PGEs, Diamonds, Uranium, Manganese, Chromium, Nickel, Bauxite and Cobalt. It is interesting to note that Africa's contribution to the world's major metals (copper, lead and zinc) is less than 7%. As a result silver production is low (less than 3% of the world's production) due to the fact that most silver is produced as a by product of lead - zinc and copper mining. Although underexplored, Africa hosts about 30% of the planet's mineral reserves, including 40% of gold, 60% cobalt and 90% of the world's PGM reserves - making it a truly strategic producer of these precious metals.
The increase in exploration and mine development in Africa has been
primarily focussed on gold and diamond exploration. Undoubtedly, there is still
great scope for these commodities, but riding on the back of improving base
metal prices, this sector could see an increase in activities. Mozambique,
Nigeria and Madagascar are but a few countries that have tremendous potential
for base metal and industrial mineral deposits.
South Africa, Ghana, Zimbabwe, Tanzania, Zambia and the DRC dominate the
African Mining industry, whilst countries such as Angola, Sierra Leone,
Namibia, Zambia and Botswana rely heavily on the mining industry as a major
foreign currency earner. Unfortunately, several African civil wars are funded
by (and often caused by) some of these commodities, in particular diamonds.
Major new mines opening in Africa or under development are distributed
between South Africa, Namibia, Botswana, Tanzania, and Gabon producing gold,
diamonds, niobium products, PGEs, chrome and base metals. Major
discoveries over the last year include the discovery of several potentially
diamondiferous kimberlites in Mauritania, and still in the diamond scene, the
potential marine deposits in offshore southern Namibia.