Write a note on Natural resources available in Africa.
Answers
Answer:
Africa has a large quantity of natural resources, including diamond, sugar, salt, gold, iron, cobalt, uranium, copper, bauxite, silver, petroleum and cocoa beans, but also woods and tropical fruits etc. Recent oil reserve discoveries have increased the importance of that commodity on African economies.
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Answer:
Africa has a large quantity of natural resources, including diamond, sugar, salt, gold, iron, cobalt, uranium, copper, bauxite, silver, petroleum and cocoa beans, but also woods and tropical fruits etc.
Recent oil reserve discoveries have increased the importance of that commodity on African economies. Sudan and Nigeria are two of the main oil producers. The United States and "Europe" took most of the Congo's oil production. Oil is provided by both continental and offshore productions. Sudan's oil exports in 2010 are estimated by the United States Department of State at $9 billion with United States dollars.
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, Côte d'Ivoire and more recently, Ghana. 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 oil producers.
Explanation:
Africa has 30 percent of the remaining mineral resources in the world. 57 percent of Africa's export earnings comes from hydrocarbons. From 1980 to 2012, proven oil reserves in the continent grew 150 percent.
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.
In recent years, exploration activities has grown in West Africa. However, lack of services became a problem for exploration companies. In 2020, West Africa received the third larger budget for exploration projects. From 2009 to 2019, West Africa accounted the major success in gold discoveries.[4] Exploration budgets in Africa fell 10% in 2020, reaching their lower levels in the last four years
Africa is abundant with natural resources, including diamonds, gold, oil, natural gas, uranium, platinum, copper, cobalt, iron, bauxite and cocoa beans.
Africa's natural resource economy contributes greatly to the continent's built environment, or human-made buildings and structures. The largest engineering projects and urban areas are directly linked to the production and trade of resources such as water, oil, and minerals.
Africa is a resource-rich continent. Recent growth has been due to growth in sales in commodities, services, and manufacturing. ... Growth has been present throughout the continent, with over one-third of African countries posting 6% or higher growth rates, and another 40% growing between 4% to 6% per year.