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Tuesday, March 5, 2013

The world's top mining countries

Worldwide industry is fueled by global mining of metals
South Africa has the world's most valuable mining resources


By John/SLR Consulting

Many people will relate the mining industry back to hundreds of years ago, when men had to work in unstable, dangerous mines as a way to earn a living. The mining industry is still working strong around the world, however it is not the same dangerous mining we once knew about, in fact many of the countries that are still carry out mining are extremely rich from their efforts.

To give you a better idea on the mining industry, I have listed the top five mining countries.

Russia


It is thought that Russia accounts for 20% of the worlds nickel and cobalt production, this is suggested to be the world’s biggest share of nickel and cobalt production all in one place. Russia also has quite a large share of coal, with around 6% of coal located there.

Russia is known for its fabulous mining efforts with it being one of the country’s most important industries for the economy. However, mining in Russia does have its bad points, many different companies and countries will avoid investing money in Russia, this is because they are notoriously known for corruption, therefore they are a high risk area to invest money.

Ukraine


Ukraine is extremely rich in iron ore and they have deposited more than $510bn worth of iron ore over the years. There are still more than 300 mines in operation in Ukraine, so there is still a lot more waiting to be discovered there. Without mining, Ukraine’s economy would struggle to carry as it is one of the country’s largest industries.

Australia


Australia is accountable for the world’s second largest supplier of seaborne ore, having reserves of more than $73bn. As well as working with seaborne ore, Australia also has large reserves of other types of minerals such as nickel and bauxite.

Lots of different companies and countries like to invest their money in Australia’s mining industry, as it is thought they can be trusted and they have many different opportunities.

South Africa


South Africa has the world’s richest mining industry as it has more than $2.5 trillion minerals in reserves. South Africa works with various different precious metals such as platinum and gold, and other resources including diamonds, base metals and coal, making them popular in almost every sector. South Africa has been a place of growing interest, with more companies and countries turning to invest their money in the mining industry as it continues to discover more in the mining sector.

Guinea


Guinea does have a rather large mining industry as it currently has more than $222 billion worth of bauxite in reserves. The country is accountable for having the world’s largest bauxite reserves in one place as it is estimated they currently have more than 24%.


About the author: John works on behalf of http://www.slrconsulting.com/ and he focuses on ensuring the mining and minerals industry continues to be environmentally friendly.

Image credit: JaySef; GFDL, CC BY-SA 3.0

1 comment:

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