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Wednesday, March 31, 2010.

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

Making headlines today:

ArcelorMittal South Africa (AMSA) CEO Nonkululeko Nyembezi-Heita says that the dispute resolution process with Kumba Iron Ore (KIO) has begun.

As Nyembezi-Heita was saying that it could be taken as read that AMSA would be entering an arbitration battle with KIO, the South African government heaped heated criticism on the South African steelmaker for imposing a 600-rand "Sishen surcharge" on every ton of steel it sells in South Africa from May 1.

South Africa's Department of Trade and Industry charged the steelmaker with penalising "the entire South African economy" for its commercial error regarding its Sishen rights and described the surcharge as "unjustifiable".

As a consequence, the DTI said that it would be referring the matter to the Competition Commission to investigate AMSA for "abuse of dominance and excessive pricing".

It a belated move, AMSA also announced that it had "significantly advanced" a broad-based black economic empowerment ownership transaction, which included an employee share ownership plan.

Process-dogged Lonmin Platinum has again been forced to shut down its number-one furnace.

The platinum miner said that it had shut down its number-one furnace following a matte run-out incident. The company experienced a similar matte run-out at its number-one furnace last June.

The full repair of the current problem was likely to take from 30 to 40 days.

Lonmin had earlier taken steps to have the additional smelter backup capacity because of the regularity of furnace problems and has already started up two Pyromet furnaces and will start up a third in early April, but these collectively only have 40% of the capacity of the stricken number-one furnace.

Also making headlines:

Department of Mineral Resources spokesperson Jeremy Michaels says that the Mining Summit is closed to the public to allow for robust debate.
Rio Tinto turns to former US Secretary of State Henry Kissinger to help rebuild its bridges with China.
ASX-listed West Wits signs a gold processing deal with Mintails.
And, Aim-listed London Mining buys the remaining 80% interest in Colombian coking coal business International Coal Company.

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