The mining industry of Libya does not contribute significantly to its economy. Mining resources are located in remote regions with limited accessibility. The fuel sector, including oil reserves (which have a capacity of 29.5 billion barrels) and natural gas (which has 1.31 trillion cubic meters of reserve) is the major revenue-generating industry. Africa's largest proven oil reserves are in Libya. The first well was drilled in 1956 and oil was struck in the following year. The Wadi ash-Shati' may hold one of the world's biggest iron ore deposits.
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