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Friday, October 9, 2009.

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

Making headlines today:

Some 25 mining contracts in the Congo involving "second tier" copper, diamond, and gold assets could be scrapped if companies fail to present the results of feasibility studies by a December deadline.

Deputy Mines Minister Victor Kasongo says that the government will see if the studies have been done. Companies will be able to present their reasons, and the cabinet will decide whether to extend the deadline or withdraw the permits.

Congo completed a review of 61 mining contracts in August as part of an effort to boost state revenues from agreements signed mostly during the chaos and corruption of a 1998 to 2003 war and the transitional government that followed.

However, many companies that saw their partnerships approved by the review panel have yet to present required feasibility study results.

South Africa's total mining output fell 11,5% year-on-year in August, with gold production recording a 2,9% decline and non-gold production dropping by 12,7%, official data showed on Thursday.

Statistics South Africa said that the seasonally adjusted total mining production declined by 5,8% month-on-month in August, with platinum-group metals contributing 4,3% to the decline.

Mining production for the three months ended August 2009 was down 4,5% compared with the three months ended August 2008.

The total value of mineral sales, meanwhile, also declined by 29,4% to 19,2-billion-rand year-on-year in July.

Also making headlines:

Canadian miner HudBay Minerals surges on production plans for its new Lalor deposit.
Silver miner Aurcana plans to start building its Texas mine next year.
DRDGold says that striking Crown employees have returned to work.
And, Anglo American says that its South American growth projects are on track.

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