86 SECTOR-BY-SECTOR OPPORTUNITIES
physical infrastructure, as well as appropriate local and regional economic cooperation, to enable optimal exploitation of mineral resources, regardless of scale or value. Given the central importance of minerals to all economies,
especially to the high-growth BRICS (Brazil, Russia, India, China and South Africa) nations that consume proportionally more mineral resources per unit of economic growth, the continent’s ability to capitalize on this sector could grant it a pivotal position at the centre of global commodity and capital markets. The AMV recognizes both the need and the advantages
of the continent speaking with a single voice on this crucial issue. While Africa is a major producer of many minerals, it has not yet fully harnessed its comparative and competitive advantages; most exports are of raw, unprocessed materials.
The potential yields from mineral beneficiation are enormous. Growth of the sector, it is envisaged, will be the catalyst for improvements in infrastructure, education and the development of other sectors. The role of the emerging market giants provides a
unique opportunity for investment in a competitive climate that favours the continent’s states. Between the old strategic focus on either nationalized industries or Western-favoured ‘Washington Consensus’ economics, there is a third way based on government and industry working in conjunction to plan long-term, mutually beneficial development in the interests of all stakeholders. This is what the AMV seeks to enable with its three goals of wealth creation, social and economic development, and the
Leading mineral resources in Africa (as a proportion of global totals)
African production
World production
Platinum-group minerals
Phosphate Gold Chromium Manganese Vanadium Cobalt Diamonds Aluminium 4% reserves 45% Source: African Union. Figures are for 2005. The continent ranks first in world production levels of minerals listed, except manganese (second) and aluminium (seventh) INVEST IN AFRICA 2011 18% reserves 55+% 78% reserves 88% 27% reserves 66% 20% reserves 42% 40% reserves 44% reserves 82%28% 51% reserves 95%
54% reserves 60+%
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