According to a new report issued yesterday by the Africa Finance Corporation (AFC), Africa contains an estimated US$29.5 trillion in mine-site mineral value, or around 20% of the world’s mineral riches, but only realizes a small portion of the economic value inherent in this endowment. Out of this amount, US$8.6 trillion is still undeveloped, indicating an underdeveloped continent where investment is constrained and risk perception is elevated by fragmented geological data, uneven coverage, and low transparency. According to the paper, enhancing the quality and accessibility of geological data is a prerequisite for de-risking projects and releasing exploratory funds.
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