The depression in the 1930’s in the country of Argentina was one of the most devastating internationally. In 1929, Argentina had the fourth highest gross domestic product; however a few short months later, this would no longer be considered the case. Considering that the economy heavily depended on foreign trade for daily essential produces, the economy was deficient of vital goods and thus lacked important industry. Mainly dependent on the foreign capital from Great Britain at the time, domestic industry was severely affected by the market crash due to the halt of British domestic capital investment. Through the Domino Effect, mass and widespread unemployment was a major and constant theme in the Argentinian culture at the time.
Petroleum oil and natural gas is one of Africa’s greatest contributors to the economy. Countries like Nigeria, Congo, Ghana, and Liberia are the main exporters of petroleum and natural gas. While natural gas is important, Africa is very famous for its gold. It has approximately 21% of all the gold in the world. South Africa and Tanzania are two countries that are famous for their gold production.
There are many famous precious materials that the everyday person knows of. Gold, silver and in more recent times platinum are all known for their scarcity and desirability. However it is a crystalline form of carbon, not a precious metal, which carries more prestige than all three of them together. The diamond. Ever since the Kimberly diamond rush began in 1866, diamonds have played a very distinct role in our society.
The philosophy worked until the price of oil plummeted. Cutting their budget from 20 to10 billion, this resulted in a massive recession that caused a bloody military coup in 1990. Environmental Issues The oil industry can never operate without having a detrimental effect on the environment, but many people say that the environmental destruction in Nigeria is much greater than that in other countries where the oil industry operates. Oil spills, gas flaring, and poorly situated pipe lines form m... ... middle of paper ... ...e forces the government has issued to protect Shell’s interests have to cease the brutal and violent acts against protesters. A environmental impact assessment needs to be made by a third party.
The Mining Industry Johnny Bynum Keiser University September 16, 2017 Abstract The mining industry is a billion dollar industry that has been around for years. Miners and business insiders know exactly how lucrative the business is. In calendar your 2016 a net profit of $US20 billion was the aggregated profit for global miners. Mining comes at a cost and the deaths of miners is one of the costs. One of the most disastrous mining accidents took over 1500 lives.
Gold Exports and Cost Implications of Illegal Gold Mining in Ghana Isaac Ibrahim School of Economics, Huazhong University of Science and Technology, Wuhan, China Email: firstname.lastname@example.org Abstract: Precious commodity as its often called, gold has been a major export commodity and export earner for Ghana. Formally called the Gold Coast due to her large mineral reserves, Ghana has been the second largest producer of gold in Africa and seventh in the world. AngloGold Ashanti is the largest official mining company in Ghana. Along with other large mining companies, they extract, refine and export gold in Ghana. However, due to its lucrative nature, following liberalization, many small scale and mostly illegal gold miners have joined in to mine.
This precious and costliest diamond is worth 400 million dollars. 2. The Sancy Diamond This costliest diamond takes everyone’s heart due to its pale yellow colour which is said to be once the price possession of the Mughals. The diamond is of Indian origin and currently rests in the Louvre Museum in France . the estimated worth of this costliest diamond is worthless and hence it finds a spot in our 10 costliest diamonds in the world countdown.
De Beers would determine the price and quantity of diamonds for the year. Therefore each one of its producers would receive a part of the total output to be sold at the predetermined price. When the monopoly was threatened through the discovery of diamonds in other countries, De Beers bought the diamonds increased their inventory and therefore their complete control through funneling all sales through single channel. When rebellions against De Beers occurred, th... ... middle of paper ... ...er’s diamond cartel, the world’s most powerful monopoly, no longer exists, the company itself is still a billion-dollar business. The demand for diamonds is still great and the supply scarce.
Britain's colonies were scattered throughout the continent. Although the French controlled the most territory, Britain ruled the greatest number of people. Mineral discoveries in the 1860s, the 1870s, and the 1880s had an enormous impact on the economy of southern Africa and Europe. Diamonds were initially identified in 1867. The British government, attracted by the prospect of mineral wealth, quickly took over the diamond fields.
The combination of falling world prices of gold and the depleted supply of gold resulted in the crash of Great Zimbabwe’s economy which rendered the nation unable to import food to supply their dwindling harvests as monoculture had set in. In conclusion, one can see that the fall of Great Zimbabwe can be explained due to trade, environmental conditions, disease, or even overpopulation. Trade may be seen as the major contributor as the changing value of gold affected the outcome of Great Zimbabwe’s survival the greatest. If the large trading network of gold had continued and had the value and export of gold in Africa remained at its optimum levels, the people of Great Zimbabwe would have survived and the city never abandoned.