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Friday, June 19, 2009.

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

Making headlines today:

JSE-listed Simmer & Jack's offer for struggling gold mining company Pamodzi's Orkney operations has lapsed. CEO Gordon Miller said on Thursday that this made it void.

The offer for the provisionally liquidated Pamodzi mine in the North West province was valid until Friday.

In a response to Miller's statement, provisional liquidator Enver Motala, from the SBT Trust, said that Simmers was being "unreasonable", stating that discussions around the bidding were taking time.

He said that several participants, including the creditors and unions, had to be consulted before a decision could be made on the future of the Orkney mine, and its 4 000 workers.

Pamodzi's operations were placed under provisional liquidation after it failed to borrow more funds. SBT Trust is now selling the company's mines to generate cash to pay its creditors and staff.

Black economic-empowerment firm Shanduka subsidiary, Shanduka Gold, would exchange its 26% shareholding in the Barberton Mines for a 21% stake in junior mining company Pan African Resources.

The junior miner reported that the transaction would allow it to extend the BEE credentials it currently had at the Barberton operations to the group level.

This would also simplify the Pan African group structure, while increasing the attributable gold ounces to the company to about 100 000 ounces a year.

The Barberton Mines are comprised of the Fairview, New Consort and Sheba operations. They would now be fully owned by Pan African.

Also making headlines:

ASX-listed Bonaparte Diamonds accepts an improved offer from Minemakers.
Australia's BC Iron aims to raise 22-million-Australian-dollars to develop a Western Australia joint venture project.
Zambia Copper Mining enters into a new loan agreement with African Copper,
And, South African coal companies offer workers an 8 to 9% pay increase,

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