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Thursday, February 26, 2009.

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

Making headlines today:

The government of the Democratic Republic of Congo has officially confirmed the validity and legality of Canadian explorer Banro's mining convention and mining licences in the country.

Banro has four gold projects in the DRC. It recently completed a feasibility study on Twangiza, the most advanced of the four projects.

The company held discussions with government officials, including the deputy Prime Minister and Minister of Mines, after noting investor concern regarding its position in the country, as a result of the mining contract review and renegotiation process being conducted by the government.

A strike that is forcing Mexico's Penoles to ship precious metal abroad for refining had no end in sight after authorities cancelled a union vote set for Wednesday on whether to continue the action.

Union official Carlos Pavon said that some 300 striking workers in the refinery section of Penoles' sprawling MetMex metals complex, in northern Mexico, would stay off work while the union decided its next move.

The striking workers laid down their tools on February 8, demanding a pay rise of 8 or 9 percent. Another 900 workers have accepted a 6 percent rise and continue to work in base metals processing.

Also making headlines:

Toronto-based Sherritt International is in talks with its partners on funds for its 4,5-billion-dollar Ambatovy project.
South Africa's DME approves Vancouver-based Great Basin Gold's environmental plan for its Burnstone project.
Iron-ore producer Cliffs Natural Resources' earnings decline to 53,9-million-dollars.
And, fertiliser product group Agrium proposes to buy CF Industries for 3,6-billion-dollars.

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