...a lot of Africa's wealth is not produced in cities. It comes from places far away—from mines and oil wells beneath deserts, atop mountains, and below the seabed.
In the heart of Africa, gold extraction is gathering pace. Last year saw the inauguration of the first industrial gold mine in the Congo in half a century. The mine's location, in violence-plagued South Kivu province, makes this development especially impressive. The continent's landlocked center is also rich in rare metals like coltan, which is used to produce the tantalum capacitors found in the circuitry of electronic devices and most smartphones—meaning many of us carry a small piece of Africa around in our pockets.
Tracking a Resources Boom—And Its Challenges
The health of Africa's mining sector is rivaled by the oil and gas industry. The continent is so rich in fossil fuels that only five of Africa's 54 countries do not currently produce or explore for oil.
As a result of the sector's growth, the political world has taken note. Western diplomatic missions are being expanded, and African leaders are in much more regular contact with the White House. By turn, African governments have become friendlier to foreign investors.
The top seven resource companies investing in Africa are all in oil and gas, led by Chevron. Mining companies are more numerous, but tend to work on comparatively smaller projects.
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