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Zimbabwe ranks 10th African country with booming Mineral Exports

Zimbabwe ranks 10th African country with booming Mineral Exports

Zimbabwe, a country with plenteousness of minerals

Zimbabwe has been listed as the tenth African country to have exported the largest volumes of natural resources totalling us$9.77 billion for the year 2022.

In a list, courtesy of a report done in 2022, by the Economist Intelligence Unitthe research and analysis division of The Economist Group, Zimbabwe is slightly below Gabon which exported $10.92 billion.

South Africa sits at the top of the list with a mineral production worth a staggering us$124.96 billion. This is primarily due to the country’s rich deposits of gold, manganese, and platinum.

South Africa is trailed by Nigeria which generates the second-highest mineral revenue at $52.69 billion. The country’s oil reserves form a significant part of its mineral wealth.

3rd on the list is Algeria with revenues largely derived from hydrocarbons. Angola at number four has a diverse range of minerals including diamonds, gold, and oil. It generates $32.04 billion in mineral revenue.

Despite being ranked fifth on the list, Libya has a relatively modest annual mineral production of $27.03 billion. This is primarily due to the country’s reliance on oil and neglect of other minerals.

Egypt has a variety of minerals including gold, copper, and silver. Its mineral revenue stands at $23.22 billion.

Ghana trails Egypt and mineral production primarily comes from gold, limestone, and iron ore. It generates $14.97 billion in mineral revenue.

At number eight is the Democratic Republic of Congo which hosts a large reserve of minerals including gold, copper, and cobalt. It generates $13.69 billion in mineral revenue.

Ninth is Gabon which has significant deposits of manganese, iron ore, and uranium generating $10.92 billion in revenue.

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At number ten is Zimbabwe which hosts a variety of minerals including platinum, chrome, coal, and gold. The country also has the largest deposits on Lithium on the continent. Its Bikita Minerals mine holds the world’s largest-known deposit of lithium at approximately 11 million tonnes.

Despite gruelling sanctions, the country in 2022 generated us$9.77 billion in mineral revenue.

Zimbabwe set a target of a 12 billion mining industry by the end of 2023 and should it meet the target the country will likely advance on the list.

Below are the top 10 African countries that exported the most significant volumes of natural resources in 2022 and generated the most wealth from their abundant reserves.

RankCountryPredominant resourcesAnnual mineral production
1.South AfricaGold, Manganese, Platinium, others$124.96 billion
2.NigeriaOil, Iron Ore, Columbite, others$52.69 billion
3.AlgeriaHydrocarbons$38.70 billion
4.AngolaDiamond, Gold, Oil, others$32.04 billion
5.LibyaOil, Clay, Cement, Salt, others$27.03 billion
6.EgyptGold, Copper, Silver, others$23.22 billion
7.GhanaGold, Limestone, Iron Ore, others$14.97 billion
8.Democratic Republic of CongoGold, Copper, Cobalt, others$13.69 billion
9.GabonManganese, Iron Ore, Uranium, others$10.92 billion
10.ZimbabwePlatinum, Chrome, Coal, Gold, others$9.77 billion

 

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