For generations, Africans have been told that the continent is sitting on a mountain of mineral wealth. In Ghana, this belief is almost part of our national identity. Our gold, diamonds, bauxite and manganese are often presented as proof that Ghana is a naturally rich country.
But Bright Simons, Vice President of IMANI Centre for Policy and Education, wants us to question that belief.
Speaking at the Students & Young Professionals African Liberty Academy (SYPALA), Simons argued that the popular claim that Africa has about 30% of the world’s mineral resources is not supported by solid data.
According to his analysis, Africa’s share is much smaller when the major minerals traded globally are examined properly. Depending on how the calculation is made, the figure can be around 5.5%, 4%, or even 1.8%.
His message is simple: when someone says Africa has 30% of the world’s minerals, we should ask: Which minerals? What data? And how was the figure calculated?
There is another problem. Africa may be strong in minerals such as gold and cobalt, but many of the minerals needed for industrialisation are not produced in large enough quantities on the continent.
Iron ore, copper, nickel, zinc and other industrial minerals are essential for building factories, roads, railways and modern technologies. Yet Africa does not have enough of them to meet its future needs.
This creates a surprising situation. Africa may look mineral-rich, but it could struggle to obtain the minerals it needs if it seriously industrialises.
For Simons, therefore, Africa must stop celebrating mineral wealth blindly. The first step is to understand exactly what we have, what we need and how much it is worth.
Ghana|Atinkaonline.com|Ebenezer Madugu
