Africa part 5

 

According to data published on caveo.com site.

Oil resources

 It is estimated that 12% of the oil produced in the world comes from Africa.  The oil was formed over more than a million years as fossils decomposed.

 The countries that lead oil production in Africa are Nigeria, Libya, Angola, Algeria and Egypt.  These countries have captured more than 8.7 million barrels of oil produced daily, according to the latest statistics issued in 2014.

 Most of the oil produced in Africa is exported to Europe and the United States where it is refined and consumed.

  Resources of precious metals

 Africa has the world's richest reserves of precious metals such as gold, cobalt and platinum.

 These mineral reserves are worth billions of dollars.  The continent is the main producer of high-priced metallic gold.  Gold is used in the manufacture of expensive jewelry, as well as in the financial markets, where it is used as an alternative investment option.  Gold is also considered one of the safe havens for investors because it maintains its value.

 South Africa is the largest gold producing country in Africa.  Other African countries that lead gold production include Benin, Morocco and Gambia.  Cobalt is another precious metal produced mainly on the continent.  Basic commodities in electric vehicle production.  Nearly two-thirds of the world's cobalt is produced in the Democratic Republic of the Congo.  Platinum is one of the rarest metals, and has the largest reserves in South Africa.  Platinum is used in jewelry, electronics, and medical equipment.

 Natural wood resources

 Sawn lumber is an essential resource in the construction industry and furniture industry.  The truth is that most African countries are rich in vast natural forests with the best types of wood.

 The ten most important wood-producing countries, which are also members of the International Tropical Timber Organization, are Cameroon, Gabon, Togo, Liberia, Côte d'Ivoire, Nigeria, the Democratic Republic of the Congo, and Ghana.  These countries are considered some of the world's leading timber producers.  Most of the timber produced in Africa is exported to China, England, France and the United States.

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