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Wednesday, March 24, 2010.

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

Making headlines today:

The trial of four Rio Tinto executives ended in Shanghai on Wednesday, with three defendants contesting charges of stealing commercial secrets in a case that has highlighted the Chinese steel industry's huge appetite for iron ore.

The trial of Australian citizen Stern Hu and his Chinese colleagues, in which all four admitted to taking bribes, has strained ties between Australia and its largest trading partner. The four face jail terms of at least five years for bribery.

It has also raised worries about China's secretive legal system, although the admissions by the executives could also cast doubts over the way mining giant Rio Tinto conducts business in China.

Diversified miner BHP Billiton has declared a force majeure at its Hay Point coal terminal, in Queensland, following damages caused by cyclone Ului.

A BHP Billiton spokesperson told Mining Weekly Online that the terminal sustained some offshore damage to walkways, cabling and platforms.

An early assessment suggested that it would take three to six weeks for both berths to return to full operation.

BHP Billiton said it had notified affected customers of a force majeure event.

Also making headlines:

ASX-listed Greenland Minerals and Energy is granted an exploration licence under the new Greenlandic Mining Act.
Australian explorer Oklo Uranium buys a stake in a Namibian uranium project.
Diversified mining major Xstrata looks at buying some of Anglo American's zinc assets.
And, Brazilian mining giant Vale confirms that it's implementing a more flexible pricing policy for iron ore.

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