This podcast is brought to you by SEW Eurodrive - Leaders in the field of drive technology.

Tuesday, March 9, 2010.

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

Making headlines today:

Coal miner Sasol has allocated 3,1-billion-rand for the new export coal mine to replace the depleting Twisdraai operation.

The Thubelisha export coal mine, already under construction, will also supply Sasol's synfuels factory in Secunda, in Mpumalanga province.

Sasol Mining's output in the six months to December 31 was up 6%, but its profit of 170-million-rand was down 88%, owing to weak rand export prices.

CEO Pat Davies says that the company requires the new mine in order to maintain its coal-export volumes.

Zimbabwe has prepared an amended mining law to be presented to Cabinet for approval before it is debated in Parliament, but it's not clear if the amendment bill will prescribe 51% local ownership of all mines.

President Robert Mugabe's government initially published a draft law in 2006, seeking to force foreign miners to sell 51% ownership to indigenous people and give up 25% free equity to the state, but the bill lapsed before it was passed.

Mines Minister Obert Mpofu said the bill had been revived, but declined to say if the amended bill would prescribe 51% local ownership of all mines in a country with the world's second largest platinum reserves after South Africa.

The mining industry has emerged as Zimbabwe's top foreign currency earner after the collapse of commercial agriculture, blamed on Mugabe's seizure of white-owned farms to resettle landless black people.

Also making headlines:
A new South African thermal coal export terminal will be built this year at South Dunes near Richards Bay.
Canadian miners ramp up their PR campaign against the controversial C-300 bill.
Gold producer AngloGold Ashanti could split its global business to increase its valuation.
And, gas-to-liquids producer Sasol makes an application to explore for shale gas in the Karoo.

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