Consensus Statement

Abstract

Africa’s considerable mineral wealth endowment ranks the continent first or second in known world reserves of bauxite, chromite, cobalt, industrial diamond, manganese, phosphate rock, platinum-group metals, soda ash, vermiculite and zirconium. The continent is also a major global producer of these and other minerals. These mineral resources represent a considerable asset base and an opportunity for broad-based economic development. Yet, Africa continues to suffer from a high incidence of poverty and underdevelopment even as the full potentiality of its mineral wealth endowment remains largely untapped due to structural and institutional challenges.