Profile on African commodities

Africa produces

98% of the world’s chromium,

90% of its platinum( it is the most valuable commodity in the world twice as much as gold)

90% of the  worlds cobalt which makes batteries, jet engines,rust preventer

90% of coltan, coltan is the stuff the material that most cell phones and computer chips are made of.

80% of Cashew Nuts

 

70% of the world’s diamonds which in is of itself a $72 billion dollar industry

70% of its tantalite

70% of chocolate which in is of itself a $110 billion dollar industry

70% of bauxite which is used to make things like aluminum

64% of its manganese- Manganese is a mineral that is found in several foods including nuts, legumes, seeds, tea, whole grains, and leafy green vegetables. It is considered an essential nutrient, because the body requires it to function properly. People use manganese as medicine-

60% of Arable Land

50% of its gold

33% of uranium, is used to make bombs.

12% of Oil (4th highest oil producing region) IHS Energy, an oil and gas consulting firm, believes that Africa will supply 30 percent of the world’s growth in hydrocarbon production by 2010.  A U.S. Department of Energy study projected that African oil production would rise 91 percent between 2002 and 2025.  African oil also tends to be high quality and low in sulfur, making it particularly desirable to refiners.  Although much less significant than the Middle East as a source of oil, Africa is no longer a marginal player, and has become especially important to the United States and China.  Libya’s 39 billion barrels of oil reserves and Nigeria’s 36 billion barrels are both twice the size of China’s proven reserves and just under twice the size of American reserves.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s