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Monday, November 9, 2009.

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

Making headlines today:

Gold and uranium junior First Uranium has agreed to sell 7% of the gold to be produced over the life of its Ezulwini mine, in South Africa, to a subsidiary of Vancouver-based Gold Wheaton.

The deal comes a year after the two companies signed a similar deal for gold produced at First Uranium's other producing operation, Mine Waste Solutions, where Gold Wheaton will buy 25% of the gold produced from the asset.

First Uranium said at the time that the deal would not only strengthen its balance sheet, but hopefully help the market see the value of the company's gold production.

Africa-focused diamond explorer BRC Diamondcore has signed a letter of intent with diversified giant Rio Tinto's mining and exploration arm. The letter of intent proposes that Rio Tinto will fund the exploration of certain parts of the joint venture property of the Tshikapa kimberlite project, in the Democratic Republic of the Congo.

The letter of intent proposes that Rio Tinto will have the right, under a staged earn-in arrangement, to earn a 75% interest in a JV company, which will hold the ownership interests in the JV property, with BRC Diamondcore retaining a 25% interest in the JV company.

The proposed earn-in arrangement is subject to various conditions, including the completion of a due diligence and negotiation and execution of a definitive agreement between the parties.

A drilling programme on the JV property is expected to start this month.

Also making headlines:

The National Union of Mineworkers threatens to strike at Anglo Coal.
South African power utility Eskom starts legal action against coal suppliers to recover some 81-million-rand for breach of contract.
Cash-flush Thompson Creek in in pursuit of acquisitions.
And, mineral explorer African Eagle exercises its option to earn a stake in a Tanzanian deposit.

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