Programmes to enhance the role of the mining sector in Africa's socio-economic development to the year 2010

Abstract

It is a well-known fact that Africa is richly endowed with natural resources. In particular, its vast potential in the domain of mineral resources need hardly be emphasized. This potential has diminished somewhat, in comparative terms, over several years - owing to the depletion of some deposits as well as a marked decrease in the volume of investment in mineral exploration over the last two decades. None the less, on a global scale, a considerable proportion of known reserves of various mineral substances are still to be found in Africa. This includes, for instance, 47 per cent of the world's phosphates reserves, 26 per cent of bauxite, 14 per cent of copper, 12 per cent of uranium and manganese, and 6.8 per cent of iron-ore reserves. However, given the inadequacy and lack of precision which has thus far characterized mineral exploration across the continent, these figures are probably understated.