Friday, February 19, 2010.

From Creamer Media in Johannesburg, I'm Mary-Anne O'Donnell.

Making headlines today:

Diversified miner Anglo American has reported a group operating profit of 5-billion-dollars. The company also announced an expected resumption of dividends in 2010.
Anglo said that 4.5-billion-dollars of the operating profit was from core operations.

The company, headed by CEO Cynthia Carroll, said that asset optimisation and procurement efficiencies had realised savings of more than 1.6-billion-dollars. 1.4-billion-dollars of this was from core operations.

An asset optimisation and procurement target of 2-billion-dollars has been set from core businesses alone by 2011.

Platinum major Implats is withholding further expansionary investment in Zimbabwe until the Zimbabwe government resolves outstanding issues and clarifies its latest indigenisation statements.

Among the outstanding issues is the Reserve Bank of Zimbabwe's holding without acknowledgement of 34-million-dollars due to Implats' Zimbabwe subsidiary, Zimplats.

Implats CEO David Brown noted that, while the company is not anti indigenisation in Zimbabwe and that it does have plans in place to address the proposed legislation, it does seek additional clarity around the matter.

Also making headlines:

JSE-listed Simmer & Jack Mines' third quarter output drops 13%.
South Africa may get a 1.2-billion-rand integrated metals plant.
The Queensland state government demands answers from Xstrata on its lead emissions.
And, Aim-listed gemstone miner Gemfields achieves first production from its trial underground mining operation. in Zambia.

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