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The second-largest mineral industry in the world is the mineral industry of Africa, which implies large quantities of resources due to Africa being the second largest continent, with 30.37 million square kilometres of land.With a population of 1.4 billion living there, mineral exploration and production constitute significant parts of their economies for many African countries and remain keys ...
Africa has 30% of the remaining mineral resources in the world. 57% of Africa's export earnings comes from hydrocarbons. From 1980 to 2012, proven oil reserves in Africa grew by 150%. [4] Ore resources in Africa are abundant [citation needed] while other continents are beginning to face depletion of resources.
The Pan-African Resource Reporting Code (PARC) is a standardized framework for public reporting of African mineral and energy resources. [1] Developed under the auspices of the African Minerals Development Centre (AMDC), PARC aims to enhance transparency, consistency, and competence in the certification and reporting processes within the African mining sector.
Gold dominates the mineral sector, contributing over 90% of total mineral exports. [1] [2] [3] In 2019, Ghana overtook South Africa to become the largest gold producer in Africa, producing 142.4 metric tonnes of gold that year. [4] [5] [6] [7]
[1] [2] The importance of mining and production of raw minerals has changed throughout time and has involved many foreign stakeholders, most notably France, the former Soviet Union, and South Africa. Gold , followed by cotton , is the top export item, making it a large contributor to the country’s economy. [ 3 ]
However, recent research indicates that the gold found in the Tarkwaian rocks is not derived from the Birimian terranes. [4] The Birimian forms two distinct and parallel greenstone belts in southwest Burkina Faso, the Hounde and the Boromo. The Hounde Greenstone Belt extends from the Ivory Coast border to the north of Houndé.
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Within the West African Craton, there is a large amount of mining activity covering resources such as gold, copper, cobalt, silver, tin, and zinc. [ 24 ] Artisanal mining activity in the craton dates back to the early 1960s which used quartz vein debris as a gold indicator. [ 25 ]