The mineral industry of Africa is the second-largest mineral industry in the world. Africa is the second largest continent, with 30.37 million square kilometre of land, which implies large quantities of resources. With a population of 1.216 billion living there. For many African countries, mineral exploration and production constitute significant parts of their economies and remain keys to economic growth. Africa is richly endowed with mineral reserves and ranks first in quantity of world reserves of bauxite, cobalt, industrial diamond, phosphate rock, platinum-group metals (PGM), vermiculite, and zirconium.