L. Fituni, I. Abramova Resource Potential of Africa and Russia's ...

The mineral resource base (MRB) of solid minerals plays an important
role in the Russian economy. Four independent markedly
different tectonic provinces distinguished in the district have peculiar
structural/tectonic, magmatic, and metallogenic features that
determine the MRB specificity and potentialities. The priority minerals
are ferrous, non-ferrous, rare earth, and noble metals, apatite
ore, and building and facing stone.
The comparison of the structure and fundamental issues characteristic
to each of the natural resources bases provides us with a
valuable tool for assessing their relative potential of Africa and Russia
as players at the global commodities markets.
Natural resources potential of Africa is over 25% of the world’s
reserves. Unlike Russia, the majority of African countries have
hardly reached the industrialization level, many of them remaining
at earlier stages or being overwhelmingly agricultural. Natural resources
account for over 97 percent Africa’s combined national
wealth. There are large deposits of fuel and energy resources and
minerals. As noted above, Africa is a key global supplier of fuel resources,
minerals, vital for modern industries, gold, platinum, diamonds,
etc.
Although mineral production is widespread, mining of particular
minerals is concentrated in a limited number of countries. Zambia
and Zaire account for 69 percent of world cobalt and 12 percent of
world copper mine production; Guinea is the world's second largest
bauxite producer; Sierra Leone the world's second largest rutile producer;
Zimbabwe the third largest producer of asbestos; and Gabon
the third largest manganese producer. Three African countries, Gabon,
Namibia and Niger, account for 24 percent of world uranium
production.
Africa suffers from a large shortfall between geological potential
and mineral development. This is directly related to insufficient exploration
work. Most exploration is based on similarities of geological
settings.
Exploration activity, as defined by African exploration budgets
increased by 19% to $1.9 billion in 2008 from about $1.6 billion in
2007. The share of Africa exploration in the total worldwide explo-
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