While it is by definition the industry of “diminishing resources”, it still remains the industry contributing to the most exports on the African continent. Ironically, the world’s richest continent in terms of mineral resources seems to have benefitted the least. Significant reserves of Gold, Diamonds, Coal, Copper, Tin, Platinum, etc, etc, etc are still being exploited across the African continent. A more comprehensive list of natural resources by country is available here.
Many of these reserves have already privately owned by Western companies and have been so owned for decades. As a result of colonial practices[efn_note]See our articles on colonialism and its ubiquitous impact on the African continent here.[/efn_note] trillions worth of resources have already escaped the continent – much of it tax-free. Arguably, much of the European continent is built on the wealth of the African continent.
In certain countries, like Angola all mineral resources are exploited in conjunction with the state. Yet after years of a windfall of over 1bn USD annually, a second cutting plant was only recently opened in the country to process 2000 carats a month (out of the just under 10,000,000 carats that get processed annually. This just one example in the hundreds that can be sited across the continent that depicts the potential for growth and the amount of money being “left on the table”. As an organisation we believe the future of the continent will be unlocked as more and more African-owned, Africa-based and African-run companies begin to emerge and enter the fray.
This can only be done by increasing investment in equipment in existing mines across the continent. Sadly, many concessions in resource-rich areas are still exploited using artisanal methods. This leaves a lot of the resources unprocessed. Not to mention the fact that the manual labour intensive method is inefficient, as opposed to more mechanised methods utilised by bigger mining companies.
We will increasingly embark on aiding companies financially, with intellectual property and/or training in order to create more and more African conglomerates. Through this type of resurgence we [Africans] can through employment and skills transfer empower African individuals and, consequently, families.
If you are a small to medium enterprise in the mining sector and would like to be part of our database, please register yourself and/or your business by clicking the appropriate button below. We will keep you abreast of opportunities in the sector across the continent. Alternatively, if you would like to share your experience in the sector or become a contributor to the site register below.
At Unmask Africa, we help you to:
- Identify suitable countries on the African continent in which to invest
- Conduct market research and risk analysis
- Find suitable local partners OR set up your company/investment vehicle/Operation
- Ensure your venture is sustainable and future-proof
- Improve your bottom-line
- Rate your venture