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Tuesday, March 17, 2009.

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

Making headlines today:

Legal advice to global miner Rio Tinto is that it only needs a simple majority of shareholder support for its planned 19,5-billion-dollar tie-up with Chinese state-owned Chinalco to go ahead.

A source close to the transaction said that the company received strong legal opinion that this was an ordinary resolution, and not a special resolution.

Some of Rio Tinto's UK shareholders have said the deal should be put to shareholders as a special resolution, which would mean the deal would need 75% support to go ahead.

Cash-strapped Pamodzi Gold was examining several "long-term" funding solutions and would make an announcement "when it was ready" to do so.

However, Pamodzi Gold executive director corporate development, Bongi Radebe, refused to be drawn on whether one of these solutions was from new gold junior White Water Resources. He also refused to place a timeframe on the expected duration of the negotiations.

However, White Water Resources CEO Waron Mann confirmed that he had held discussions of an exploratory nature with both Pamdozi Gold chairperson Ndaba Ntsele and Pamodzi Gold director Kobus du Plooy.

It is understood that Pamodzi Resources Fund, which was assisting Pamodzi Gold, had called on White Water Resources to discuss a capital-raising concept, which would include the issuing of warrants.

Also making headlines:

The spot price for uranium will likely remain low in the short term, but a return to strength is expected by 2011.
Mining investment company Natasa Mining will acquire a 70% stake in TSX- and Aim-listed African Copper through a proposed 6,5-million-dollar equity placement.
Western Australian uranium-miner Toro Energy sees no slowdown in uranium demand.
And, the feasibility study for a 169-million-dollar Botswana uranium mine will start soon.

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