Natural resources of Africa

Africa has a large quantity of natural resources including oil, diamonds, gold, iron, cobalt, uranium, copper, bauxite, silver, petroleum, but also woods and tropical fruits. Much of its natural resources are undiscovered or barely harnessed. Having a low human density, for a long period of time Africa has been colonized by more dynamic groups, exploiting African resources. Some economists have talked about the 'scourge of raw materials', large quantities of rare raw materials putting Africa under heavy pressures and tensions, leading to wars and slow development. Despite these abundance of natural resources, many Western nations like the U.S., U.K., Canada, and France often exploit Africa's natural resources today, causing most of the value and money from the natural resources to go to the West rather than Africa, further causing the poverty in Africa.^[1]

African oil

African oil takes growing importance, mainly after the 2003 oil crisis and recent oil reserves discoveries. Sudan and Nigeria are two of the main oil producers. China owns 40% of Sudan's oil production. Oil is provided by both continental and offshore productions.

Five countries dominate Africa's upstream oil production. Together they account for 85% of the continent's oil production and are, in order of decreasing output, Nigeria, Libya, Algeria, Egypt and Angola. Other oil producing countries are Gabon, Congo, Cameroon, Tunisia, Equatorial Guinea, the Democratic Republic of the Congo, and Cote d'Ivoire. Exploration is taking place in a number of other countries that aim to increase their output or become first time producers. Included in this list are Chad, Sudan, Namibia, South Africa and Madagascar while Mozambique and [Tanzania] are potential gas producers.^[2]

Ores

Ore resources in Africa are abundant, and extremely more so nowadays as other continents are beginning to face depletion of resources. The copper belt in Katanga, the diamond mines in Sierra Leone, Angola, and Botswana are well known for their abundance and rich produce, albeit, also notorious for their level of corruption and links to rebel movements. The RUF(Revolutionary United Front) and the blood diamonds used to supply these rebel factions with arms is one such example.

Fresh water

Africa contains many lakes and rivers, fostering a small fishing industry. The deep rivers of Africa have significant hydroelectric potential value. Lake Victoria is Africa's 2nd largest lake. Lake Volta in Ghana is the world's largest artificial lake.

Ocean

The Atlantic and Indian Oceans on Africa's coast allow further enterprises such as: fishing, mining, and offshore oil drilling. Its coastlines are teeming with fish and other sea life.

See also

• Economy of Africa
• Mineral industry of Africa

References

1. ^ http://www.independent.co.uk/news/world/politics/african-bioresources-exploited-by-west-466824.html
2. ^ http://www.mbendi.com/indy/oilg/af/p0005.htm

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