African countries are becoming an increasingly viable location for generating mineral and metal-based wealth, according to a leading industry analyst.

Absa Corporate Merchant Bank commodities consultant Hilton Ashton told Mining Weekly that platinum in particular was leading the charge for the continent.

Hailing platinum as “the flavour of the decade”, he underlined its enormous potential for generating revenues in a number of different areas of Africa, particularly as demand remains robust.

However, Mr Ashton did warn that political problems could prove a barrier to the continuation of this wealth, citing Zimbabwe as one area where the platinum industry could be destabilised by wider issues.

Last month the Zimbabwean government had to try to reassure investors in the mining industry following comments carried in the state press by President Robert Mugabe.

The president was reported to have said he would land 50 per cent stakes in all of the country's mining operations.