Which raw materials and minerals are these, and is this more recently in Africa or during the period of slavery in the BWI?
Some answers to this question can be found here:
www.theguardian.com/politics/2005/aug/20/past.hearafrica05
Before you write it off as a mere opinion piece, the writer is Dr Richard Drayton and he wrote this in 2005. He's now at KCL but was ...'a senior lecturer in imperial and extra-European history since 1500 at Cambridge University.' at the time of writing
For those who don't want to click:
Profits from slave trading and from sugar, coffee, cotton and tobacco are only a small part of the story. What mattered was how the pull and push from these industries transformed western Europe's economies. English banking, insurance, shipbuilding, wool and cotton manufacture, copper and iron smelting, and the cities of Bristol, Liverpool and Glasgow, multiplied in response to the direct and indirect stimulus of the slave plantations.
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In The Great Divergence, Kenneth Pomeranz asked why Europe, rather than China, made the breakthrough first into a modern industrial economy. To his two answers - abundant coal and New World colonies - he should have added access to west Africa. For the colonial Americas were more Africa's creation than Europe's: before 1800, far more Africans than Europeans crossed the Atlantic. New World slaves were vital too, strangely enough, for European trade in the east. For merchants needed precious metals to buy Asian luxuries, returning home with profits in the form of textiles; only through exchanging these cloths in Africa for slaves to be sold in the New World could Europe obtain new gold and silver to keep the system moving. East Indian companies led ultimately to Europe's domination of Asia and its 19th-century humiliation of China.
Africa not only underpinned Europe's earlier development. Its palm oil, petroleum, copper, chromium, platinum and in particular gold were and are crucial to the later world economy. Only South America, at the zenith of its silver mines, outranks Africa's contribution to the growth of the global bullion supply.
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It is remarkable that none of those in Britain who talk about African dictatorship and kleptocracy seem aware that Idi Amin came to power in Uganda through British covert action, and that Nigeria's generals were supported and manipulated from 1960 onwards in support of Britain's oil interests.
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African slavery and colonialism are not ancient or foreign history; the world they made is around us in Britain. It is not merely in economic terms that Africa underpins a modern experience of (white) British privilege. Had Africa's signature not been visible on the body of the Brazilian Jean Charles de Menezes, would he have been gunned down on a tube at Stockwell? The slight kink of the hair, his pale beige skin, broadcast something misread by police as foreign danger.