Mining & Oil

Mining & Oil

In 2015, the continent produced 13% of global oil, up from 9% in 1998. The growth trend of oil and natural gas production between 1980 and 2012 was amazing: from 53.4 billion barrels to 130.3 billion barrels for oil; for natural gas, from six trillion cubic meters in 1980 to 14.5 trillion cubic meters in 2012. As of 2012, Africa also controlled 53.9% of the world’s diamond resources. – In 2017, the Democratic Republic of the Congo alone accounted for 58% of the world’s cobalt (used in electronics production) while South Africa accounted for 69.6 % of the world’s platinum production in 2016 (used for catalytic converters and in other goods).

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. – Africa is estimated to contain 90% of the entire world supply of platinum and cobalt. – Half of the world’s gold supply. – 2/3 of world manganese. – 35% of the world’s uranium. – It also accounts for nearly 75% of the world’s coltan, an important mineral used in electronic devices, including cellphones.

Where there is demand, there is opportunity.- The future is Africa