Mineral resources for Africa's development: anchoring a new vision : issues paper 1

Abstract

Africa is endowed with considerable amounts of mineral resources and ranks first or second in quantity of world reserves of bauxite, chromite, cobalt, industrial diamond, manganese, phosphate rock, platinum-group metals, soda ash, vermiculite and zirconium. The continents also a major global producer of these minerals. The continent is also becoming an important player in world production of coal, oil and gas. In 2010, Africa accounted for a total share of 12.2 per cent of the global oil production. These resources play a crucial role in the economy, as they account for a significant share of exports. Indeed, mineral resource exports contribute to merchandise exports in 24 (44 per cent) of Africa's 54 countries. The overall objective of this Issues Paper is to provide material and background input for the segment of the eighth African Development Forum (ADF-VIII), which will discuss mineral development issues. The Issues Paper complements the ADF-VIII concept note and should be read in conjunction with it. It identifies a set of key issues that should inform the relevant ADF-VIII deliberations. It poses questions to frame the debate with no attempt to offer policy prescriptions.