Top 10 Richest Mineral Producing Countries in Africa.
Africa is home to huge and plentiful natural resource deposits, with resources ranging from large cobalt reserves found throughout the mineral-rich plains of the Congo to black gold, more often known as oil. Nearly all precious minerals that are necessary for creating money, producing goods, and improving technology are found in Africa. Because of their mineral endowments, some African countries have developed, some more so than others. Roughly 30% of the world’s total mineral reserves are located in Africa. While some nations are dependent on oil, others are wealthy in diamonds, gold, copper, cobalt, coal, iron ore, and other minerals. South Africa, Nigeria, Algeria, Angola, and Libya produce more than two-thirds of Africa’s mineral wealth, thanks to their substantial oil reserves, according to a study by The Economist Group’s research and analysis division, Economist Intelligence Unit, with the exception of South Africa, which has an abundance of natural resources. According to the paper, high prices for commodities like copper, oil, iron ore, aluminum, and gas will promote investment and all work to reduce external imbalances, stabilize currencies, and advance economic growth. Across the continent, exports are booming due to rising commodity prices.
In today’s episode, we will be looking at the top 10 richest mineral producing Countries in Africa. Fasten your seat belt as we go on this joy ride.
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