Africa is rich
The African continent is rich in raw materials and natural resources that form an important, if not essential, foundation for many African economies.
Africa has numerous non-renewable raw materials of global economic interest such as oil, gold, diamonds and ores. In addition, an estimated 89% of the world's mineral resources such as bauxite, chromite, cobalt, diamonds, gold, platinum and titanium are found there. (Source: Lutz van Dijk "The History of Africa")
In terms of energy resources, an estimated 20% of the world's uranium, over 9% of the world's oil, 8% of the natural gas and around 6% of the global coal reserves are located on the continent. (As of 2006).
(See http://www.bpb.de/suche/? Suchwort = energierohstoffe + afrika & sucht = search)
"Above all, the world wants raw materials from Africa" © 2009: Le Monde diplomatique, Berlin
The most important export product of Africa is crude oil. It accounts for around 42% of all exports, followed by gold, diamonds and metal ores, with a share of around 14.5% of total African exports. But the distribution of mineral resources on the continent is not balanced: in the south and west of the continent there are significant deposits of copper (Democratic Republic of the Congo, Zambia) as well as gold and diamonds (South Africa, Botswana, Angola, Liberia, Sierra Leone). In addition to Libya and Algeria in the north, Angola, Nigeria, Gabon, the Republic of Chad and, most recently, Ghana are important oil exporters. However, other African countries have rather insignificant raw material deposits.
The high economic growth rates in many African countries in recent years are largely influenced by the wealth of raw materials and the export of raw materials. Developments on the global raw material market and the growing global demand for mineral and metallic raw materials, crude oil and natural gas also played their part.
In 2007, the continent's gross domestic product rose by an average of 5.7%. The oil-producing countries led the way. In addition, the global raw material boom has driven Africa's economy in several ways: On the one hand, through high primary exports from the continent, and, on the other hand, through the resulting rapid increase in Africa's own raw material consumption. In some countries this has grown to such an extent that Nigeria, for example, will import raw materials itself in the long term with constantly increasing raw material consumption.
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