05 Feb 2025
15 MIN READ
Top 10 Countries Controlling The World's Natural Resources.
Has the world we live in today entered an age of exhaustion? Accessibility to natural resources has become limited; the demographic explosion also fueled the exhaustion rate.
When we consider natural resources under a microscopic lens, it is the “wealth for the future”, accumulation of it capitalizes a nation's economy and shapes its economic strategy. Most of the countries are rich in natural resources, and controlling these resources has marked a chapter in history. The colonial era was nonetheless a chapter on controlling available natural resources, resulting in a massive large-scale exploration.
In the post-colonial period, we live in today, the control of global natural resources has been rebranded, some argue it has been rebranded neo-colonialism while some under the umbrella of investments and partnership. If we consider that neo-colonial practices are now prevailing, the African continent will be the ideal variable.
Nearly half of the world’s gold and one-third of all minerals are in Africa, and in 2019, the continent produced almost 1 billion tones of minerals worth $406B. UN has also estimated that Africa holds 30 percent of the world’s mineral reserves, 12 percent of the world’s oil, and 8 percent of the world’s natural gas reserves.
Additionally, 40 percent of the world’s gold and up to 90 percent of its chromium and platinum lies beneath the continent. However, China (PRC), in recent years, has controlled 8 percent of Africa's mining sector, less than half of its Western competitors, an increase from 6.7 percent in 2018. China is one example but many other economically powerful countries are making their way to the continent in search of the world’s natural resources.
Let's map out how powerful and influential countries are on the verge of controlling the world’s natural resources through diversifying strategies ranging from precious metals to oil and natural gas.
1. United Kingdom - Investments and Minerals Exploration
Starting with the imperial British and its colonial history, which was associated with the exploration of natural resources globally, the most successful colonial power. During its colonial era, a range of natural resources were exhausted from commonwealth countries, predominantly, raw materials such as cotton, tea, rubber, and minerals from their colonies in India, Africa, and Southeast Asia. It has been argued early exploitation of natural resources traces its origins to early colonialism.
How has natural resource mining and production been channeled in the post-colonial era? One such approach adopted is investments, an effective being pursued by many countries now. Under the British government development finance institution and impact investor, British International Investment (BII) an upward trajectory of investment.
In 2023, a total of £1.31 billion of investments were placed in support of sustainable development in emerging economies across Africa and Asia. A continent witnessing a fresh mining boom driven by demand in North America, India, and China, as per a report.
According to the report, titled “Britain’s Scramble for Africa’s Energy and Mineral Resources”, the African continent is at the center stage of a new wave of colonial invasion. This new wave is reported to be of the same magnitude endured during the devastating colonial period.
As observed, the new exploration in the continent is centered on strategic energy and mineral resources, and in the “scramble of Africa, it is the British companies, actively aided and abetted by the UK government. Per the report”, British companies now have control over Africa’s key mineral resources, notably gold, platinum, diamonds, copper, oil, gas, and coal.
Most British companies operating in the continent are listed on the London Stock Exchange (LSE) and enjoys mining operations in 37 sub-Saharan African countries, collectively controlling over $1 trillion worth of Africa’s most valuable resources. As an example, the mineral sands/ilmenite project in southern Madagascar by Rio Tinto contains nearly 70 million tons of ilmenite, which is around 10% of the world market for the mineral.
Rio Tinto, the global miner, partnered with BHP to accelerate the development of technology to significantly increase water recovery from mine tailings. In the first of its projects in Chile, the agreement aims to test the application of an innovative large-volume filter unit.
2. France - Nuclear Energy and Power Plants
The nation of France is yet another colonial power that has extensively sourced its natural resources from its colonial countries, particularly during the colonial period. Even in the post-colonial era, France has made efforts to maintain relations with its former colonial states, mostly as commercial partners to benefit economically and from natural resources. To exemplify, France has relied on uranium mining in Niger for its nuclear power plants, and it is generalized it has been executed by the Orano group.
Orano formerly known as the Areva is a French nuclear fuel cycle group, which has already marked 50 years of presence in Niger operating its uranium production, and Niger accounts for 3% of the world's uranium production. 90% of the multinational group is owned by the French state and operates in three mines in Niger, the Aïr mines, the Akokan mining site, and the Imouraren mine.
Such an exploration under a neo-colonial approach has made France a forerunner in nuclear energy, leading the way in providing critical solutions for a low-carbon society. A leader of the world in energy transition, France legislated a net zero emissions target for 2050 in its 2019 Energy and Climate Act and aims to reduce by 55% its greenhouse gas emissions by 2030.
To achieve the aim of low-carbon footprint reduction, nuclear power plants are at the helm of such a policy. France obtains about 70% of its electricity from nuclear energy, and 17% of its electricity is from recycled nuclear fuel. They are now the world’s largest net exporter of electricity backed by the low cost of generation and earn over €3 billion per year from this.
Électricité de France (EDF), a multinational electric utility company owned by the government of France is also the key driver in the energy transition. Their operation in the energy business extends to power generation, distribution, trading, energy sales, and energy services. As per the latest update, their presence has reached five 5 continents, a colossal hydroelectric dam in Cameroon provides electricity production solutions in Africa, biggest biomass power plant in Western Africa, in Ivory Coast, the largest solar power plant in Chile, and more. Such neo-colonial projects overseas provide an impetus in controlling the global natural resources directly or indirectly.
3. Spain - Oil Exploration in Venezuela
Does colonial history play a role in the exploration of global natural resources? Subjective to many, neo-colonialism does play a major role in controlling the natural resources of the former colonial countries. Colonial exploration and conquest by Spain was highly motivated by the availability of mineral resources and labor control and this has shaped the neo-colonial aspirations.
Understanding the aspirations of exploring natural resources in its former colonial states through cooperation and partnership, Spain in 2024 has reached the highest graph on crude oil imports from the South American continent since 2006, per source. Cited in research and backed by agency data, Spain has imported about 2.6 million metric tons of crude oil from Venezuela.
To further explore Spain's aspiration of oil imports from Venezuela, Repsol S.A, a Spanish multinational energy company, and Venezuelan state oil company PDVSA join hands to start a joint venture, to maximize its crude and gas output and fasten debt repayment. The Petroquiriquire joint venture, PDVSA enjoys a 60% interest and Repsol the remaining 40%, and is licensed to operate in several areas, including the Monagas North region. The agreement for Petroquiriquire includes the fields Quiriquire, Mene Grande, and Barua-Motatan.
Respol license for oil production in Venezuela has enabled the multiplication of Spanish crude oil imports from Venezuela. Per available data, in the first quarter of 2024, Spain’s crude imports clocked at 1.7 million tons, exceeding the imports for the entire year 2023, which were a total of 1.4 million tons, Venezuela is considered to hold the world’s biggest oil resources.
4. Japan - Exploring Malaysian LNG Resources
During the colonial world of the 1900s, Imperial Japan explored the global natural resources in Asia extensively, printing history as the only Asian power to do so. Japan’s colonial dominance was evident from its exploitation of old China and Korea, draining the natural resources and controlling forced labor. In the post-war of 1950s, and post-US occupation Japan's colonial hunger was depleted, and focused on investing in Asian development through its ODA (Official Development Assistance) and Japan International Cooperation Agency (JICA).
Now in the neo-colonial era, Japan has positioned itself as the benefactor of Pan-Asian growth and partnered with the regional powers to bring development and utilization of the natural resources. One such project is in Malaysia, Japanese trading giant Mitsubishi in an announcement shared its ownership of liquefied natural gas resources, securing 10% stakes in the Dua and Tiga units of the Malaysian LNG plant. In context, the Malaysian LNG accounts as the world's largest LNG facility controlled by the state-owned energy giant Petronas. Four major production units (Satu, Dua, Tiga, and Train 9) of the country making headlines hold an annual capacity of 29.3 million metric.
From a microscopic lens, Petronas and Japan’s Mitsubishi Corporation hold a 46-year-long partnership, under this new agreement on LNG, Japan will hold a 10 percent equity shareholding in MLNG Dua, and the reinvestment of a 10 percent equity shareholding in MLNG Tiga. The nation of Nihon stretched its ambition for greener, low-carbon, and cleaner energy beyond the confines of Asia and the continent as in recent times they have shown ambition of an LNG pipeline in Alaska.
Per recent reports, the long-waited pipeline for liquefied natural gas will provide shipment of these natural resources across the Pacific and act as a solution to avoid potential U.S. tariffs. Meanwhile, in the United States under the new Trump cabinet, the Alaska LNG pipeline project seems to be near to reality as it has been pushed to a priority project. JERA (Japan’s Energy for a New Era), the largest power generation company in Japan, also shared that this pipeline project will directly benefit LNG production in the states.
5. China - World's Renewable Energy Minerals
As the world enters the digital revolution at the dawn of the 21st century, the demand for electronics and renewable energy minerals has heightened. Per data, by 2002, 122 million smartphones were sold globally, and by 2021, 1.5 billion smartphones were sold, enabling an explosion in minerals demands. Notably, the essential components of a smartphone such as the display, battery, and speakers are made from mined and semi-processed materials such as lithium and cobalt, and the African continent is leading the way in such production.
In 2019, the Democratic Republic of the Congo (DRC) recorded about 63 percent of the world’s cobalt production. Tantalum is another equipment for electronic units mostly in phones, laptops, and automotive electronics. Here DRC and Rwanda are the world’s largest producers of tantalum producing half of the world’s tantalum. Cobalt, copper, lithium, nickel, and rare earth elements (REEs) are known to be the primary elements for producing electric vehicles and batteries.
In such an increasing mineral production, China’s footprint across Africa’s mining sector is witnessing a sharp upward trend, even though it has been argued China exporting more ($173 billion) to Africa than it imports ($109 billion) from Africa. Also, China’s trade graph on minerals and metals mirrored an upward trajectory, as the exports from Africa to China reached roughly $50 billion in 2021.
In parallel, Chinese investments in the continent are also on the sharp rise, as extractions along with refining and processing of minerals are managed by the investments. For instance, Chinese companies have announced refining projects totaling $300 million lithium processing plant, opened in Zimbabwe in June 2023 by Prospect Lithium Zimbabwe. Another $250 million lithium processing plant, was opened in October 2023 in Nigeria by Ganfeng Lithium Industry Limited, and others, including in Morocco.
Taking into account the investments and trade relations, China has emerged as Africa’s largest trading partner and foreign direct investor. According to Power Playbook: Beijing’s Bid to Secure Overseas Transition Minerals, China has managed to strengthen its supply chain in the past two decades by financing transition mineral extraction across developing countries, positioning itself as a global powerhouse in processing and refining these essential materials. Nonetheless, China’s monopoly over Africa’s renewable energy minerals is growing at an unprecedented rate.
6. US - Coal reserve and Crude Oil
The largest economy in the world, the United States holds a high volume of natural resources, including coal, timber, natural gas, gold, and copper. The United States is proven to control the highest amount of coal reserves in the world, having 23.2 percent of the global reserves. As of 2021, the total recoverable coal reserves were estimated at 1.16 trillion short tons, and figures suggested five nations are controlling 75% of the world’s coal reserves. United States at 22%, Russia at 15%, Australia at 14%, China at 14%, and India at 11%.
Coal continues to be at the center stage of the global energy system, accounting for roughly 35% to 40% of global electricity consumption. Coal currently serves as the world second second-largest source of primary energy, and is projected to replace oil as the world’s largest source of primary. Even in the US, coal-fueled power plants are providing electric power, and more than 55% of the coal reserve in the States is placed in the West, mainly in Montana and Wyoming. In 2024, the demonstrated reserve base (DRB) which is the sum of coal in both measured and indicated resource categories of reliability, was measured to be 469 billion short tons of coal.
In terms of crude oil reserves, the United States amounted to the “world’s largest recoverable oil reserve base”, leaving behind even Saudi Arabia and Russia. As for the global oil production share of 2023, the United States holds 20.1 percent of the global crude oil production, placing it as the largest oil-producing country globally. Furthermore, crude oil production domestically has increased sizably brought by the technological advancement resulting in a significant decrease in crude oil imports since 2005, which used to be imported from OPEC member countries.
7. Russia - Gas Reserve and Diamond Production
Even during the Russian Republic regime of the 1900s, the land has always been showered with vast natural resources explored and unexplored. By the 1960s, the Soviet Union underwent massive industrial development, particularly in the production of oil, gas, and electricity and in the chemical industries. The demise of the Russian Republic in 1991 directly affected production and witnessed industrial inefficiencies. Following, a series of radical reforms to transform the economy, including structuring privately owned industrial and commercial ventures.
By the coming of the 21st century, newly formed Russia exercised to maximize its enormous energy resources and the significant deposits of many different minerals, including raw materials required by modern industry. Statistically, Russia and its government hold the largest share of natural resources in the world, estimated to be worth $75.5 trillion.
According to recent data, Russia is among the world’s leading producers of oil, extracting about one-fifth of the total global oil. Also, a global leader in both natural diamond and artificial diamond production controlling 32.4% of the global gem diamond mine production with an estimated 40% global mine production of industrial-grade diamonds.
The country is also leading in global energy markets, one of the world’s top three crude producers, competing for the top spot with Saudi Arabia and the United States. Russia has oil and gas production facilities spread out while the bulk of its fields are concentrated in western and eastern Siberia. They are among the world's leading oil producers, extracting about one-fifth of the global total from the huge fields in the northern part of the West Siberia region.
With its vast available natural resources and the world’s largest gas reserves, Russia is at the number-one spot for world gas reserves and is the world’s second-largest producer of dry natural gas, second to the US. As per statistical data, Russia is the world’s largest gas exporter, and Gazprom and Novatek are Russia’s main gas producers. In 2021 they produced 762 bcm (billion cubic meters) of natural gas and exported approximately 210 bcm via pipeline.
As the volume of natural gas remains ahead of the curve, Russia extends a wide-reaching gas export pipeline network, both via transit routes through Belarus and Ukraine and via pipelines sending gas directly into Europe. European Union’s natural gas is imported from Russia, Norway, and Algeria. Russia is by far the biggest gas supplier to the continent as seven European states of the former Warsaw Pact and the Soviet Union rely on Russia for over 99% of their natural gas.
To stay ahead of the graph and continue to dominate the world’s natural gas resources, In 2021, the government released a long-term LNG development plan, targeting 110-190 bcm/year of LNG exports by 2025. In terms of global share in natural gas, Russia holds the world’s largest proven reserves at 1.32 quadrillion cubic feet as of 2020 which is nearly 20% of the global total.
8. Saudi Arabia - Oil, Gas, and Petro Chemicals
When it comes to the availability of natural resources the country of Saudi Arabia is blessed with many including mineral resources, crude oil, gas, and others. With the abundance of natural resources, the kingdom is on the path to reform under the Saudi Vision 2030, such reform agenda is to be enabled by the export of its natural resources and its production. The kingdom reportedly holds natural resources worth $34.4 trillion, majorly oil which has been a leading exporter since it was discovered in 1938.
Saudi directly has contributed to the total global natural resources and its monopoly in the oil sector has allowed control over a number of the world’s natural resources. The OPEC nation has the world’s second-largest oil reserve next to Venezuela and also the sixth-largest gas market in the world. Also leading globally as the top crude oil exporter and OPEC’s top crude oil produced in 2023. In addition, it also amounts to the largest oil reserves in the world, with an estimated 263 billion barrels, about one-quarter of world oil reserves. Saudi oil trade accounted for 90% of the country’s exports and 75% of government revenues.
Undoubtedly, Saudi is a major player in the petroleum sector, controlling 17 percent of the world’s proven petroleum reserves and ranking as one the largest net exporters of petroleum. Saudi Arabia’s national oil company (NOC), Saudi Aramco, is one of the world’s largest integrated energy and chemicals companies and operates across the upstream, midstream, and downstream segments. In 2022, Aramco’s average hydrocarbon production was 13.6 mmbpd, including 11.5 mmbpd of crude oil.
9. Australia - Uranium Reserve
The largest country in Oceania, and the sixth largest in the world, Australia has a major share in the global natural resources. The ocean state approximately has $19.9 trillion worth of natural resources including a list of coal, timber, copper, iron ore, gold, and uranium. The nation’s economy in review is also dependent on the “natural resources reserve”, a direct share in the global natural resources, Australia records a massive 46% supply of uranium globally. Additionally, the state contributes a sum of 14.3 % of the global supply of gold, making it one of the nations to control the global natural resources.
Taking into account uranium as one of the global natural resources, Australia is known to have the world's largest uranium resources amounting to one-third of the world's total. However, in terms of uranium production, they are ranked as the world’s fourth producer, producing 8% of global uranium. In 2022 Australia produced 4820 tonnes of U3O8 (4087 tU). It is worth noting that uranium, is considered the world's heaviest, naturally occurring element found in soil, rocks, human tissue, food, water, and the ocean, and enriched uranium is primarily used as fuel for nuclear power stations.
Even though Australia does not hold any uses of nuclear power, as per World Reasonably Assured Resources (RAR) of uranium recoverable Australia accounts for approximately 31 percent of this global inventory. Apart from its uranium reserve, Australia is the third largest uranium producer in the world, behind Kazakhstan and Canada. As of 2019, Australia’s uranium production was from three operating uranium mines: Olympic Dam and Four Mile in South Australia, and Ranger in the Northern Territory, and most of the domestic production is exported.
10. Canada - Silver Mining in Mexico
Canada's presence in the silver mining industry of Mexico cannot be overlooked, as 40% of Canadian investment in the country is linked to the mining sector. Moreover, out of Mexico’s foreign mining companies, 70% are reported to have Canadian interests, and 205 companies in the country are established with Canadian capital. The mining industry of Mexico is ranked fifth in the world and holds a long history of mining in silver, gold, and copper, and it is appearing larger in Canada’s interest.
Canada has the largest mining sector in the world and has explored the Latin American countries with most of its investment targeted in the region. Five Canadian-based mining companies have made the news as they venture on new projects in Mexico, they are all set to heighten the production of silver along with gold and base metal.
Mining in Mexico has been an indicator of revenue generator, accounting for 8.3% of industrial GDP and 2.5% of national GDP. The footprint of Canadian mining companies in the country is directed towards multiplying its revenue, First Majestic Silver Corp is one such Canadian mining company that operates in Mexico and aspires to maximize its mineral assets. Their operations extend to the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine.