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Friday, April 17, 2009.

From Creamer Media in Johannesburg, I'm Beth Shirley.

Making headlines today:

An investment of between 90- and 110-billion-rand may be required to build the 40 new coal mines that are expected to be required for the South African industry. This is to meet the projected growth in domestic and export demand over the next decade.

Frost & Sullivan metals and mining analyst Wonder Nyanjowa said that South Africa's energy intensive economy was overwhelmingly dependent on coal. Nyanjowa added that coal underpinned about 75% of the country's power and transport energy needs and supported 90% of the electricity generated.

The domestic demand for coal is set to increase by 75-million-tons a year over the next decade. Export demand for coal from China, India and the European Union is also forecasted to remain strong.

However, the existing coal production capacity of the country couldn't sustain this growth.

The Democratic Republic of Congo has rejected contract revisions proposed by six of the biggest mining firms there and will extend a much-delayed review by six months.

The review aims to boost state revenues from agreements mostly signed during the chaos of a 1998 to 2003 war and a corruption-plagued post-war transitional government. It was initially due to last six months.

Of 61 contracts evaluated under the review launched in 2007, six are unresolved. They include deals with AngloGold Ashanti, Banro, First Quantum, Gold Fields, Freeport-MacMoRan and Mwana Africa.

Deputy mines minister Victor Kasongo said that the outcomes of negotiations to date were far from the terms of reference. They had, therefore, been rejected by the government.

Also making headlines:

Brazil's Vale plans an eight-week mine shutdown in Sudbury, Ontario.
Aim- and JSE-listed Braemore Resources restarts its smelter after an operational incident.
Protesters block the road to Fortuna's silver/gold project in Mexico.
And, JSE-listed Zambia Copper Investments makes an offer for African Copper.

That's a round up of news making headlines today. For more on these and other stories please visit miningweekly.com.