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Friday, April 30, 2010.

From Creamer Media in Johannesburg, I'm Tracy Hancock.

Making headlines today:

Financially troubled gold-mining aspirant Aurora Empowerment Systems has signed a 750-million-rand equity capital agreement with Swiss funder Global Emerging Markets, or Gem.

Aurora director Michael Hulley said that the agreement involved Gem buying up to 750-million-rands worth of shares in a JSE entity that Aurora would be acquiring.

Hulley described Gem as a 3,4-billion-dollar alternative investment firm based in Geneva that had completed 285 transactions in 60 countries. Investment in the JSE-listed entity that Aurora intended acquiring would be Gem's first investment in South Africa.

Aurora director Michael Hulley:

The North West Iron Ore Alliance, or NWIOA, welcomed an Australian Competition and Consumer Commission, or ACCC, ruling that provides it with final authorisation to negotiate access to rail infrastructure in Western Australia.

The alliance said it would now immediately move to set up "meaningful negotiations" with infrastructure owners. The NWIOA would seek to engage in collective negotiations with BHP Billiton, Rio Tinto, Fortescue Metals Group and any similar provider in future.

NWIOA COE Tony Considine said that the ACCC's decision could be seen as a reaffirmation of the importance of access to rail infrastructure to enable junior iron-ore companies to further develop the Pilbara, an outcome that has the support of Premier Colin Barnett.

Also making headlines:

The coal market shrugs off South African rail utility Transnet's strike date.
The first gold from a new Argentina mine is expected this year.
Supply chain group Noble says it has ‘no interest' in Australian coal producer Macarthur.
And, Southern Africa-focused Namakwa Diamonds is upbeat as diamond prices strengthen.

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