Monday, August eighteen, 2008.

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

Making headlines today:

Some southern African countries launched a free trade zone on Sunday. It is aimed at giving the region economic muscle.

Only 11 countries in the 14-nation Southern African Development Community agreed to the pact. The region hopes it will boost trade and investment opportunities and create jobs. The countries excluded from the agreement are Angola, the Democratic Republic of Congo, and the Seychelles.

The Free Trade Area will exempt 85% of trade from tariffs and the aim is to fully liberalise by 2012.

Harmony Gold CEO Graham Briggs said on Friday that the company's billion tons of tailings in the Free State could produce gold at a cost as low as 100 000 rand a kilogram. This was as the gold price threatened to settle below 200 000 rand a kilogram, its lowest level since December.

He added that the possibility of treating 12-million tons of surface tailings a year for 20 years at St Helena was being investigated.

Harmony would also be remaining steadfastly focused on its long-term growth strategy. This had already seen 4,9-billion rand being invested to date in five significant growth projects.

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Cash-strapped Pamodzi Gold is desperate to raise 50-million dollars. This is after a major funder pulled out of a deal it had lined up at the last minute.

Corporate affairs director Bongi Radebe said at the weekend that she was "quite confident" that the company would secure a new funding package soon. However, it is urgent, as Pamodzi's creditors bill balloons.

The company has not yet had to retrench any staff. Radebe said this would be "the last thing it would want to do".

Also making headlines:

Sacci says that trade conditions are still tight, but are improving
The Eastern Cape is looking for investors for the newly upgraded Bisho airport
Shell says there has been no progress on fixing the Nigeria oil pipeline
Harmony Gold says that Hidden Valley's production will be delayed to next June
AngloGold closes part of TauTona after a death at the mine
And, Orezone Resources gets a 330-million dollar loan facility for a Burkina Faso mine

In political news:

President Mbeki says that the Zimbabwe talks are to continue
A UN envoy is in Myanmar amid waning hopes for a reform
Georgia is conciliatory as Russia is due to withdraw
And, Pakistan's Musharraf is to address the nation

That's a round up of news making headlines today. For more on these and other stories, visit engineeringnews.co.za, miningweekly.com and polity.org.za