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Friday, April 23, 2010.
From Creamer Media in Johannesburg, I'm Jacqueline Holman.
Making headlines today:
Mineral Resources Minister Susan Shabangu has instructed the South African mining industry's special task team to pull the country back from the global mining brink. This is after its plunge down to the nether regions of Fraser Institute rankings, where it is keeping company with the likes of Zimbabwe, the Democratic Republic of Congo and Venezuela.
Shabangu told the House during the debate on the 2010/2011 Department of Mineral Resources Budget Vote that she had specifically tasked the mining industry growth, development and employment vehicle, or Migdett, not only to restore but also to enhance South Africa's ranking as a mining investment destination.
The Fraser Institute's survey of 72 mining countries pushed South Africa down to the 61st position, from its 49th position previously.
The Department of Mineral Resources has approved and granted the conversion of junior-miner Pan African Resources' old-order mining rights for the Barberton Mines, in South Africa's Mpumalanga province, into new-order mining rights.
Pan African CEO Jan Nelson said that the granting of new-order mining rights created long-term stability for the business and demonstrated that South Africa remains an attractive place to conduct mining business.
The Barberton Mines comprise the Fairview Mine, the New Consort Mine and the Sheba Mine.
Collectively, the mines produce about 100 000 ounces a year of gold.
Also making headlines:
Precious metals consultancy GFMS expects demand for platinum to rise by 5% this year.
JSE-listed Gold One agrees to a three-year wage deal with the National Union of Mineworkers.
A recovering DRDGold reports higher production and lower costs.
And, Harmony Gold is upbeat about its drilling results in Papua New Guinea,
That's a round up of news making headlines today.
Edited by: Shannon de Ryhove
Creamer Media Senior Deputy Editor Polity & Multimedia
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