The biggest mineral producing countries are among the most progressive economies in the world. That’s because even in the post-industrial revolution era, minerals are still among the most important and most in-demand natural commodities across the globe.
The geographic location and land size of the top mineral producing countries could be cited for the rich reserves in those areas. This is also the reason why most of the globe’s largest mining firms and investors are present in the following top mineral producers and exporters:
Not surprisingly, South Africa is the world’s top mineral producing country. With its geographic location, in a continent that is considered as the cradle of civilization and the richest in biodiversity and natural resources, South Africa abounds with mineral reserves that are estimated to be worth over $2.5 trillion, according to World Mining Statistics and The Telegraph.
To date, this African nation is the biggest producer and exporter of important and highly in-demand minerals like platinum. It’s also among the leading producers of diamonds, gold, coal, and other base metals.
As a productive mineral producer, Russia boasts of iron ore reserves worth an estimated $794 billion. Aside from that, it also accounts for up to 20% of nickel and cobalt production in the world, and about 7% of global iron ore and coal exports.
The geographic location of Russia can also be credited for its rich mineral deposits, being situated in the massive continents of Europe and Asia. The country’s mining industry is a driving force in its national economy.
The continent-nation of Australia has about $737 billion worth of seaborne ore reserves alone. It also houses massive reserves of other important minerals, like bauxite and nickel. Based on a report by Mining-Technology.com, the country has about 35% of the world’s total nickel reserves, and almost 23% of its bauxite reserves.
It may not exceed the scale of South Africa and Russia in terms of mineral reserves, but Australia is more popular among international mining investors because of its government’s credibility and track record of performance in protecting the mining industry.
It’s estimated that Ukraine has up to $510 billion in iron ore reserves alone. Aside from the presence of other mineral reserves, this country is best noted for its productive mining sector. To date, there are over 300 mining facilities that are actively operating across Ukraine.
Papua New Guinea
The fifth biggest country in terms of natural mineral reserves is Papua New Guinea, which holds about $222 billion worth of reserves of bauxite. In fact, the territory is estimated to hold up to 24% of the total bauxite reserves in the world.