This podcast is brought to you by BMG - South Africa's finest source of quality engineering components and expertise.

Monday, October 19, 2009.

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

Making headlines today:

A Brazilian newspaper said this weekend that mining giant Vale will boost investment by more than 30% to around 12-billion-dollars next year.

The company has faced harsh criticism in recent months from government leaders for not investing enough in Brazil, fueling speculation that President Luiz Inacio Lula da Silva is seeking to force out the company's chief executive Roger Agnelli.

Last week, the the world's largest iron ore producer announced that it would invest more than 5-billion-dollars by 2015 to boost production capacity in the mining state of Minas Gerais, in efforts to stave off criticism.

Vale came under pressure late last year when it laid off some 1 200 Brazilian workers, after idling capacity amid the financial crisis, and again in May after it slashed 2009 investments by 37% to 9-billion-dollars.

An illegal sit-in by more than one hundred mineworkers at the Two Rivers platinum mine, in South Africa's Mpumalanga province, has halted production at the mine. Two Rivers is a joint venture between African Rainbow Minerals and Impala Platinum.

Arm and the National Union of Mineworkers confirmed that the workers had refused to come out of the mine after their night shift ended at 6 am on Monday morning.

The union said that the workers were demanding that a manager at the mine, who allegedly fired four workers, be dismissed.

Arm head of investor relations Monique Swartz confirmed that a decision had been taken to let some workers go following an official hearing into a fall-of-ground incident. She noted that the unions had agreed to the dismissal of the workers involved.

The management of the mine was currently trying to engage with the employees to explain the procedures followed with regard to the dismissal of the workers, she added, saying that Arm was liaising with the unions.

Also making headlines:

Diamond giant De Beers says that demand for diamonds is stabilising.
Campaigners say that the Kimberley Process is failing Africa.
Xstrata goes ahead with a 3-billion-rand South African coal project.
And, the battle for bankrupt copper miner Asarco will face a key test in a Texas court.

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