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Friday, September 4, 2009.

From Creamer Media in Johannesburg, I'm Rosalia Matlou.

Making headlines today:

Australian resource companies have been encouraged to continue investment in South Africa's mining sector, but Mineral Resources Minister Susan Shabangu said that profit from mining in the country could not continue at the expense of safety.

She said that South Africa was introducing tougher obligations on the sector to cut the "unacceptably" high death rate in the country's mining sector.

The mine death toll for 2009 is approaching 120, with an average of more than 14 mineworkers dying each month, during the first eight months of the year.

Speaking to journalists on the sidelines of the African Downunder conference, in Perth, Shabangu said that her department was looking to amend the Mine Health and Safety Act and that it would improve on its inspectorate.

South Africa would complete an audit of the State's mining interests held directly or indirectly, by the first quarter of 2010.

Mineral Resources Minister Susan Shabangu added that government would look at creating a State mining company, focusing on commodities such as coal and uranium.

Speaking on the sidelines of the Africa Downunder conference, in Australia, she said that her department was given a mandate by the Cabinet to audit its mining assets.

Last month, Cabinet placed a moratorium on the disposal of mining assets to provide the Mineral Resources department time to finalise the audit, which will enable the State to decide whether to consolidate, retain or dispose of its interest in mining.

Also making headlines:

Australia launches Africa resources cooperation initiative.

Impala Platinum eyes strong resurgence in Chinese platinum jewellery

Gold, silver mining stocks up as metal prices soar.

And, miners at Chile's Spence mine to start wage talks.

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