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Thursday, April 2, 2009.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

On Thursday, TSX- and JSE-listed diamond exploration company BRC DiamondCore said it would have to secure additional funding and achieve or sustain profitable operations, in order for it to continue operating in the normal course of business, with great uncertainty ahead.

The company had widened its net loss for the year ended December 31, 2008, to 103-million-Canadian-dollars, compared with a net loss of 1,8-million-Canadian-dollars in 2007.

The company said that it was exploring all available options to secure additional funding. This included equity and debt financing, the sale of noncore assets and strategic partnerships.

Campaigners said on Wednesday that electronics manufacturers should trace the minerals they use in order to prove they are not funding fighting in the Democratic Republic of Congo. But critics said the scheme could do more harm than good.

Congo's resource-fuelled 1998-2003 war and the humanitarian catastrophe it sparked have killed an estimated 5,4-million people over the past decade. This makes it the most lethal conflict since World War II.

The Enough Project initiative calls on consumers to demand more transparency in the manufacturing of electronics. It comes as lawmakers in the US prepare legislation that would force companies to prove the origins of the minerals they buy.

Congo's violence centres around the provinces of North and South Kivu. These provinces are rich in tin, tantalum, and tungsten ore, which are essential components in many household electronic devices.

Also making headlines:

South Australia aims to process mining leases in six months.
An international arbitration panel gives Newmont six months to sell its Indonesian mine stakes.
Financial services firm Hartleys says that the Australian gold sector can expect a better 2009.
And, Vancouver-based Pan American Silver produces the first silver and zinc at its Bolivia mine.

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