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Thursday, April 29, 2010.

From Creamer Media in Johannesburg, I'm Shannon de Ryhove.

Making headlines today:

South African labour union Solidarity said that mine deaths in the country had been showing a downward curve. However, the union noted that there was still room for improvement in safety technology.

Solidarity occupational health and safety head Paul Mardon said that the mine deaths had decreased over the past year, showing that the contributions of stakeholders in the mining industry were paying off.

In 2007, a total of 221 mine deaths occurred in South African mines, which was more than four deaths a week. By 2009, the figure had decreased to 165 deaths, which was about three workers a week.

This year, 29 workers had died on local mines in the first four months, which comes to about 1,8 deaths a week.

Mining companies have rejected a new law in Tanzania that raises royalties on minerals and prohibits foreign companies from gemstone mining, saying it would further erode investor confidence.

In a joint statement issued through the Tanzania Chamber of Minerals and Energy, investors described the legislation as "distorted," saying it would curtail future mining projects in east Africa's second biggest economy.

The chamber said that the bill will only serve to hinder further growth of the mining sector as existing investors resort to curtailing existing and expansion projects. It says it is bound to scare potential investors who will look elsewhere to invest.
The Tanzania Chamber of Minerals and Energy represents the interests of international and local investors in the sector.

Mining companies said they hoped to convince the government to amend the new law before it receives presidential assent, as it would have "serious repercussions" on the industry.

Also making headlines:

An ANC heavyweight weighs in against mine nationalisation.
Diversified South African miner Exxaro expects coal output to match last year.
Waterberg coal developer Firestone is looking for a cornerstone investor.
And, China agrees to individual iron-ore deals as talks stalemate.

That's a round up of news making headlines today.