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Tuesday, September 22, 2009.

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

Making headlines today:

Diversified miner Rio Tinto has sold its Alcan Composites business, which was part of its Alcan Engineered Products division, to Swiss textile and semiconductor machinery manufacturer, Schweiter Technologies, for 349-million-dollars.

The transaction is expected to close by the end of the year.

Rio Tinto bought Alcan Engineered Products for 38-billion-dollars in October 2007, but has since sold some of the division's assets in line with the group's overall divestment strategy to preserve cash flows and reduce debt levels as a result of the global economic crisis.

Schweiter Technologies' business currently comprises the SSM Textile Machinery and the Ismeca Semiconductor divisions.

Two miners trapped underground for almost 24 hours after a power blackout in a remote Australian zinc mine were rescued on Tuesday, but operations at the mine remain shutdown until full power can be restored.

A union spokesperson at the mine site 1 100 kilometres east of Sydney said a dust storm hit the outback town of Broken Hill on Monday, cutting power at the Perilya mine.

Only emergency power has been restored to the Broken Hill area and the mine will remain shut until full power can be restored.

Also making headlines:

Brazil's mining reform plan rouses investor anxiety.
Simmer & Jack says that resolving differences with shareholder Vulisango will continue.
Toronto-based Royal Nickel is now led by ex-Inco executives.
And, South Australia's Four Mile uranium project is delayed.

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