Mineral industry of Africa Mineral industry of Africa The mineral industry of Africa is the largest mineral industries in the world. Africa is the second largest continent, with 30 million km² of land, which implies large quantities of resources. For many African countries, mineral exploration and production constitute significant parts of their economies and remain keys to economic growth. Africa is richly endowed with mineral reserves and ranks first or second in quantity of world reserves of bauxite, cobalt, industrial diamond, phosphate rock, platinum-group metals (PGM), vermiculite, and zirconium. Gold mining is Africa's main mining resource. The Central African Mining and Exploration Company (CAMEC),
Mineral industry of Africa zinc), and Zambia (copper and cobalt). The mineral industry's exports make up an important part of the African gross income. Ongoing mining projects of more than US$1 billion are taking place in South Africa (PGM 69%; gold:31%), Guinea (bauxite and aluminium), Madagascar (nickel), Mozambique (coal), Congo (Kinshasa) and Zambia (cobalt and copper), Nigeria and Sudan (crude petroleum), Senegal (iron), and many others. The Department of Mineral Resources of South Africa reported that investment in newly committed precious metals projects in South Africa—those for which funds had already been committed or were being expended—was $8.26 billion in 2005. An additional $9.56