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),
Henry S. Ives years. With partners George H. Stayner and Thomas C. Doremus, he founded the firm of Henry S. Ives and Company in 1886, while still in his 20s. The firm immediately began acquiring the stocks of railroad companies, inflating their stock prices, which provided additional borrowing leverage for more acquisitions, then raiding their corporate treasuries once they'd assumed control. He controlled the Mineral Range Railroad in Michigan, the Terre Haute and Indianapolis, and his largest conquest was the Cincinnati, Hamilton and Dayton Railway in 1886. In May 1887 the expulsion and later unexplained re-admission of Doremus as a member of the