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Thursday, March 11, 2010.

From Creamer Media in Johannesburg, I'm Shannon de Ryhove.

Making headlines today:

South Africa's Department of Mineral Resources has granted junior miner Coal of Africa Limited approval to take a bulk sample from its Makhado coking coal project.

CoAL holds a 100% interest in the Makhado project, which is expected to deliver five-million tons a year of hard coking coal product at full output.

Following processing and laboratory analysis of the bulk sample, the coal will be handed to steelmaker ArcelorMittal South Africa to test in its coking ovens at Vanderbiljpark for value in use analysis.

The testing is necessary to finalise certain terms and conditions of the proposed off-take agreement between CoAL and the steel giant, including terms and conditions relating to pricing and volumes.

South Africa's Mineral Resources Minister Susan Shabangu says that China has shown strong interest in investing in the country's mining sector. She also reassured investors that there were no plans to nationalise mines.

China, Africa's biggest emerging market partner, has been investing in the continent's mining and energy sectors, and the Minister said that South Africa was a willing but cautious partner.

She said that South Africa is cautious to see if China's investment is going to benefit South Africa, as it is critical to ensure that South Africa's own interest is catered for.

Shabangu said that the Chinese were keen to invest in the processing of minerals in the country - a key priority of the government, which hopes to extract as much value from mines as possible and boost job creation.

Also making headlines:

The Department of Mineral Resources confirms that the Sishen right has reverted to the State.
Australian gold-miner St Barbara will build a new Western Australia gold mine.
Randgold Resources plans to start construction later this year on its high-grade Gounkoto project, in Mali.
Indonesia's tin output may be half of the 2010 target.
And, gold junior Gold One secures additional prospecting rights in Gauteng province's East Rand basin.

That's a round up of news making headlines today.