The second-largest mineral industry in the world is the mineral industry of Africa, which implies large quantities of resources due to Africa being the second largest continent, with 30.37 million square kilometres of land.With a population of 1.4 billion living there, mineral exploration and production constitute significant parts of their economies for many African countries and remain keys to economic growth. Africa is richly endowed with mineral reserves and ranks first in quantity of world reserves for bauxite, cobalt, industrial diamond, phosphate rock, platinum-group metals (PGM), vermiculite, and zirconium.
The Central African Mining and Exploration Company (CAMEC), one of Africa's primary mining enterprises, faced criticisms for its unregulated environmental impact and minimal social stewardship. In the spring of 2009, retired British cricket player Phil Edmonds' assets were seized by the United Kingdom's government due to CAMEC's illicit association with former self-appointed Zimbabwean President Robert Mugabe. CAMEC underwent restructuring and sold 95.4% of its shares to the Eurasian Natural Resources Corporation. Consequently, it no longer operates under the CAMEC brand.[1]
African mineral reserves hold a significant position globally ranking first or second for bauxite, cobalt, diamonds, phosphate rocks, platinum-group metals (PGM), vermiculite and zirconium.[2] Many other minerals are also abundant in quantity. In 2012, the African soil contributed to the world's production of minerals as follows: bauxite 7%; aluminium 5%; chromite 38%; cobalt 60%; copper 9%; gold 20%; iron ore 2%; steel 1%; lead (Pb) 2%; manganese 38%; zinc 1%; cement 4%; natural diamond 56%; graphite 2%; phosphate rock 21%; coal 4%; mineral fuels (including coal) – 13% and petroleum 8%; uranium 18%;[3] and platinum 69.4%.
^ENRC Africa offer for CAMEC has 93.55% acceptance Archived 2012-02-20 at the Wayback Machine, IBTimes, 8 December 2009.
^MIA, p1.1
^MIA, p1.7
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