16. ADEDOJA OLUWATOBI EMMANUEL
HOW THE YOUTH IN AFRICA CAN HARNESS THE MINERAL RESOURCE SECTOR TO CREATE OPPORTUNITIES FOR SUSTAINABLE ECONOMIC DEVELOPMENT INTRODUCTION The earth’s crust of Africa is rich in mineral resources. According to the United States Geological Survey (USGS), about 30% of the world’s mineral reserves are found in Africa, which accounts for over 20% of the global annual production of five key minerals: 80% platinum, 77% cobalt, 51% manganese, 46% diamonds, 39% chromium and 22% gold. Also, out of 54 African countries, 42 are regarded as resource-dependent, 18 are classified as dependent on non-fuel minerals, 10 as dependent on energy or fuel exports, and the rest as dependent on agricultural export. In the same vein, African Development Bank (AfDB) estimates that Africa’s extractive resources could contribute over USD 30 billion per annum in government revenue for the next 20 years. However, despite the abundance of mineral resources on the continent, most resource-rich African c...