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Thursday, October 22, 2009.

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

Making headlines today:

A designated adviser to listed Wescoal has been found guilty of insider trading and made to pay an administrative penalty of 150 000-rand.

Judge Frikkie Eloff found that Marius Meyer, the designated adviser to the JSE/AltX-listed coal junior, had contravened Section 73 of the Securities Services Act and that the two counts brought had been "adequately established".

The Financial Services Board conducted the investigation and its Directorate of Marketing Abuse had brought the case before the FSB's enforcement committee.

Workers at Chile's Spence copper mine plan to resume wage talks with owner BHP Billiton to solve a nine-day strike that has hurt output and fanned worries about copper supplies.

The strike is hurting output at BHP's mine, which produced close to 165 000 tons of copper last year, and is also seen as an indicator of upcoming labour talks at other mines in the world's top copper producer, Chile.

Spence union leader Andres Ramirez said that a government mediator convinced both parties to hold talks on Thursday. He had previously threatened a long stoppage to pressure the company to improve wages and benefits.

Also making headlines:

First Quantum must continue its case against a DRC-court.
Diversified mining company Anglo American will sell noncore assets, including Scaw Metals, to focus on its core mining activities.
Australia's Bass Metals will build a new base metals mine in Tasmania.
And, Washington-based Gold Reserve files for arbitration against the Venezuelan government.

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