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Tuesday, November 24, 2009.

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

Making headlines today:

Kumba Iron Ore CEO Chris Griffith says that a global iron-ore price settlement 10% up on the current price is expected from price negotiations in 2010.

Griffith told Mining Weekly Online that there tends to be stockpiling of iron-ore in Europe and elsewhere in anticipation of a 2010 price increase.

The price negotiations of 2009 didn't reach finality in terms of agreement on a benchmark price, as is customary, but 70-dollars a ton free on board prices and 100-dollars a ton landed prices had become the 2009 price norm.

Trade union Solidarity has announced that South African mining contractor JIC Mining Services plans to retrench 662, or nearly 10,4%, of its 6 300 employees.

The retrenchment will affect 628 Category B employees and 34 Category A employees. Category A employees include, among others, officials, miners and artisans, while Category B includes employees such as operators and cleaners.

This comes after the announcement by platinum producer Anglo Platinum's Rustenburg Platinum Mines (RPM) that the contract with JIC won't be renewed. The contract expires at the end of December and all the employees who could be affected by the planned retrenchments currently work at RPM's Tumela West and Central mines.

Solidarity says that JIC management has already indicated that everything possible will be done to avoid the planned retrenchment. Transfers are currently being considered as an alternative, but it isn't yet clear how many employees will avoid retrenchment in this manner.

Also making headlines:

The Philippines may cancel a mining permit for a 2,4-billion-dollar nickel project by Norway's Intex Resources.
Kumba Iron Ore sees a potential seaborne iron-ore shortage by 2012.
Harmony will produce more gold and try and save jobs despite shaft closures.
And, Cliffs Natural Resources prepares to tackle the ferrochrome market.

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