Mining is a growing enterprise in many African countries. The continent is known to be producing over 60 mineral and metal products through mining. Several countries in the African continent are known for producing the world most vital mineral and metal products such as Gold, Silver Diamonds, Chromium, Uranium, Manganese, Cobalt, Nickel, Bauxite and a lot more.
Future of Mining industry in Africa
Although the mining business is thriving in African to some extent, the continent still remains underexplored. Despite this, the continent is known for hosting over 30% of the world’s mineral reserves with particular emphasis on gold, diamond and cobalt. In fact, the mining development in the continent has been focused on diamond and gold exploration. Yet, a lot need to be achieved in the near future. Several explorations need to be carried in order to maximize the natural resources available in many of the African countries.
Several African nations are known for having thriving mining enterprise. Madagascar and Nigeria have the greatest potentials for industrial and base metal deposits. However, the mining enterprise is mainly thriving in Ghana, South Africa, Zambia, DRC, and Tanzania. Other countries rely on the mining industry as major foreign currency earners. Among such African countries include Namibia, Zambia, Botswana and Sierra Leone.
Currently, several new mines are opening up in some African countries such as South Africa, Tanzania, Namibia, Gabon and Botswana. Some of the metals and minerals expected to be mined in such countries include gold, chrome, niobium products, diamond and base metals. A lot of new discoveries are being made in many of the African countries. For instance, there’s a recent discovery of diamond in Mauritania and in Southern Namibia.
Mining potential in African Countries
In any case, despite the potential of the mining enterprise in Africa, the future of the business is very bleak. This is because of the incessant political and economic turmoil that characterize the African continent. Several African nations have passed through civil wars. Some of them are currently having political and economic problems. Political instability, bribery and corruption are thriving in many of the African nations. This has continued to affect the development of the mining industry and other vital economic sectors.
Again, the growing insecurity in the African continent also poses a great threat to the mining enterprise. There’s the issue of guerrilla attacks, Boko Haram terrorist attacks, armed robbery, bombings and killings here and there. All these ugly facts have continued to mar the future of mining in the continent. Several mines in some of the affected countries have been shut down. The global economic crisis also affects the mining business in Africa.
In any case, there’s still hope for the African mining enterprise despite the challenges on ground. It’s expected that future governments in the African nations will rise up to the challenge of promoting the mining business. We still hope for a better future in the midst of the existing challenges.