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Friday, November 27, 2009.

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

Making headlines today:

Canadian mining executives and other industry participants have come out strongly against the contentious Bill C-300. They argue that, if enacted, the bill could result in a potential exodus of Canada-domiciled resources companies.

Hearings are currently under way into the controversial private-members' bill, which would allow Canada's government to investigate complaints about Canadian resources firms operating in foreign countries and withhold taxpayer-funded financing, such as from Export Development Canada, from transgressors.

On Thursday, Canada's top three gold producers, Barrick Gold, Goldcorp and Kinross Gold, made a joint submission to the Standing Committee on Foreign Affairs and International Development in the House of Commons in Ottawa, protesting the bill as unnecessary and potentially harmful.

An industry official said on Thursday that Namibia's proposed law to force mining companies to yield 25% of their shareholding to black investors poses a risk to the industry and may deter future investment.

Paladin Energy manager of African operations, Werner Duvenhage, said there wasn't enough cash among blacks in the country of 2,2-million people to fund such investments.

He suggested that the government should instead pursue its policy of collecting taxes and royalties from the mines.

Also making headlines:

The South African Communist Party warns that that South African minerals law is too 'weak' on beneficiation.
Randgold Resources promises a roadmap for Kibali in the first quarter of 2010.
Exxaro Resources expects to see growth over the next two years as prices improve.
And, Brazilian giant Vale will invest in another Brazil steel project.

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