15 Countries Sitting On A Fortune Of Metals And Minerals

Heading toward a future of commodity scarcity and soaring prices -- at least according to Jeremy Grantham and others -- natural resources have never played a greater role in national power and wealth.

We're going to recap a great report on the metal & mineral superpowers, which was published by Citi last year. Remember this report gives value based on 2010 prices, and doesn't count a big rally in the past year, with gold up 65%.

The U.S. has an impressive $613 billion in metal & ore reserves but ranks only No. 8 on this list.

15) Guinea has $222 billion in metal & ore reserves

Bauxite mine

100% of value is in Bauxite

444 years of production

Source: Citi (2010)

14) Indonesia has $227 billion in metal & ore reserves

Port facilities at Indonesia's Benete Bay copper mine

Image: mining-technology.com

48% Copper

33% Gold

19% Nickel

27 years of production

Source: Citi (2010)

13) Mexico has $240 billion in metal & ore reserves

Mexico's huge Cananea copper mine

56% Copper

15% Gold

10% Iron ore

10% Zinc

62 years of production

Source: Citi (2010)

12) Kazakhstan has $292 billion in metal & ore reserves

Kostanay region open-cast iron ore mine

64% Iron ore

22% Copper

10% Zinc

4% Bauxite

117 years of production

Source: Citi (2010)

11) India has $296 billion in metal & ore reserves

Image: The Hindu

86% Iron ore

8% Bauxite

6% Zinc

164 years of production

Source: Citi (2010)

10) Peru has $328 billion in metal & ore reserves

Southern Peru Copper Corporation

68% Copper

11% Gold

10% Zinc

23 years of production

Source: Citi (2010)

9) Ukraine has $516 billion in metal & ore reserves

Gleyevatskiy iron ore mine

99% Iron Ore

1% Potash

161 years of production

Source: Citi (2010)

8) USA has $613 billion in metal & ore reserves

Bingham Canyon Open Pit Copper Mine in Utah

20% Copper

19% Iron Ore

12% Gold

5% Platinum

4% Zinc

3% Potash

44 years of production

Source: Citi (2010)

7) Chile has $661 billion in metal & ore reserves

Chilean copper mine

Image: duquesneminesupply.com

85% Copper

8% Gold

31 years of production

Source: Citi (2010)

6) China has $717 billion in metal & ore reserves

Chinese execs of Australia's Rio Tinto

57% Iron ore

15% Copper

8% Zinc

7% Gold

17 years of production

Source: Citi (2010)

5) Brazil has $726 billion in metal & ore reserves

Samarco Alegria Iron Ore Mine, Brazil

Image: mining-technology.com

70% Iron ore

8% Bauxite

8% Nickel

7% Gold

7% Potash

31 years of production

Source: Citi (2010)

4) Canada has $1,000 billion in metal & ore reserves

Potash feldspar in Canada

79% Potash

6% Iron ore

5% Nickel

3% Gold

3% Copper

1% Zinc

1% Platinum (PGM)

56 years of production

Source: Citi (2010)

3) Australia has $1,588 billion in metal & ore reserves

Western Australia iron ore mine

Image: leighton.com.au

46% Iron ore

22% Nickel

12% Bauxite

9% Gold

5% Copper

1% Zinc

43 years of production

Source: Citi (2010)

2) Russia has $1,636 billion in metal & ore reserves

Image: France 24

49% Iron ore

20% Potash

14% Platinum (PGM)

8% Gold

5% Nickel

4% Copper

99 years of production

Source: Citi (2010)

1) South Africa has $2,494 billion in metal & ore reserves

Image: northam.co.za

91% Platinum

6% Gold

2% Nickel

1% Iron ore

184 years of production

Source: Citi (2010)

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