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Thursday, October 8, 2009.

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

Making headlines today:

JSE-listed midtier platinum producer Northam Platinum will spend 3-billion-rand over five years to develop the first module of its new Booysendal mine. Construction of the mine will start in the first half of 2010.

The company reported that the feasibility study at the Booysendal project was complete and that the final board approval for the project would likely be given early next year.

First concentrate from module one of the project is expected in 2013, with the project building up to full production of about 130 000 ounces a year of platinum palladium, rhodium and gold by 2015.

Underground ore mining at diversified miner BHP Billiton's Olympic Dam copper/gold and uranium mine, in Australia, was continuing, while an investigation into the cause of the mechanical failure of one of the mine's haulage systems got under way.

The fully-automated haulage system at the mine's Clark Shaft, which was the primary system used to transport ore from underground to the surface for processing, had failed during operations on Tuesday night.

No one had been injured in the incident.

The mine's planning team was determining what impact the temporary closure of the Clark Shaft would have on mine production, planning schedules and budgets.

Also making headlines:

Australian precious metals explorer Platina Resources explores for gold and platinum in Greenland.
The Ecuador strike is called off after the President meets with indigenous leaders.
Nickel and platinum producer Braemore Resources' shareholders approve the all share offer by platinum company Jubilee.
And, Aura Energy expands its Sweden uranium deposit holding.

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