This podcast is brought to you by Mitsubishi Fuso - you can rely on us.

Wednesday, October 15, 2008.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

The Chamber of Mines is querying why South Africa's mines are continuing to be "penalised" with a lower power allocation. It says something must be done to end the period of power curtailment.

South African Chamber of Mines chief executive Zoli Diliza says that power curtailment to mines is particularly significant in the light of South Africa's 8% current-account deficit, against the ability of the mining sector to narrow that deficit through exports.

He says that, although the CoM has participated in all the structures established to deal with the power crisis, the problem has "not yet gone away", and something needs to be done to end it.

(audio clip)

Consol Energy CFO William Lyons said on Tuesday that it expects demand for coal to remain robust. It recently signed a new contract to supply the coal used in steel production for about $300 a ton.

Lyons told an investor conference that supply was still quite low compared to demand, and that it should still see robust pricing. The company was still confident with the $300 price.

But Lyons also said that the company would cut down on new projects because of the credit crisis that has hurt companies' ability to borrow money.


Also making headlines:

China's Western Mining is to start up a Tibet copper plant.
Uranium hopeful Forsys is in 'exclusive' talks on a potential buyout.
Norilsk Nickel sees a downside in copper but nickel will still be supported.
And, South Africa's Pamodzi Gold and the National Union of Mineworkers reach an agreement on pay, and the strike is called off.

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