In a recent report ranking the top mining countries in the world Australia falls on the number one spot. According to the report It is the largest producer of bauxite, iron ore and lithium and a top global producer of coal, Aluminium, copper, gold, manganese, nickel, silver, uranium, and zinc. Other countries in the ranking include Chile, China, Russia, Canada, Brazil, the Democratic Republic of Congo (DRC), South Africa, and the United States of America.
Nigeria’s Laser focus on the Oil and Gas industry has robbed it from maximising the Mining and export of 750 Billion Dollar worth of solid Minerals. Two Billion Dollars meant for the Nigerian economy is lost every year due to illegal mining. Recently Nigeria’s Mining sector can easily be likened to an antic only appreciated and valued by a select number of collectors and petty thieves.
Australia and Nigeria share many solid Minerals in common; there are iron ore, lithium, coal, gold and zinc deposits in Nigeria. What are Australia and the other countries doing better than Nigeria? The state of Western Australia alone holds over A $1 trillion in known mineral resources. While The Nigeria government has made efforts to revitalize the mining industry since 2005—through the modernization of mining policies, laws, regulations, and investments in geoscience data—the sector’s contribution to Nigeria’s GDP remains negligible, standing at less than 1 percent, according to the National Bureau of Statistics (2024).
Nigeria lacks many mining policies which would benefit the sector. Along with the issue of illegal mining not much exploration has been done. Nigeria also falls greatly behind in the mechanisation and increased use of technology in contrast with Australia’s mining-friendly policies, stable government, transparency, advanced technology expertise, and crucial proximity to Asian export markets. All of these underpin Australia’s mining leadership globally.
Despite the government corruption, increased armed rebel conflict and other issues plaguing the democratic republic of Congo. It is sixth in the global ranking for top ten mining countries. The DRC holds over 70% of global cobalt reserves, boasts rich diamond deposits and has bountiful reserves of copper, tin, tantalum, tungsten and gold. Mining directly provides jobs for hundreds of thousands of Congolese as well. This proves that Nigeria, can improve the mining sector despite the issues it faces.