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Friday, September 25, 2009.

From Creamer Media in Johannesburg, I'm Megan Wait.

Making headlines today:

JSE-listed Metorex, headed by CEO Terence Goodlace, has agreed to sell its entire 55% holding in South African fluorspar producer Vergenoeg Mining, to Spanish partner Minersa for 60-million-dollars.

The proceeds of the sale will go towards paying down debt on its Ruashi copper mine, in the Democratic Republic of Congo. The sale needs approval from Metorex shareholders.

Spain-based Minersa is already a 30% owner in Vergenoeg, and Metorex sold the balance of 15% to a consortium of black investors in late July.

Minersa and its associates also hold more than 10% of Metorex's own issued share capital.

South African trade union Solidarity has declared a dispute with diversified miner Exxaro Resources. The union will seek a strike certificate.

The dispute, over wages, has been referred to the Council for Conciliation, Mediation and Arbitration.

The union wants Exxaro to speed up and implement the equalisation of wages across its businesses.

Solidarity spokesperson Jaco Kleynhans says that it is only fair that all Exxaro workers receive the same salaries throughout the country.

Exxaro has coal, base-metal and mineral sands operations in South Africa, Namibia, China and Australia.

Also making headlines:

Canada agrees on a nuclear-cooperation pact with Kazakhstan.
China again fails in a bid for Australian resources.
Canada's Teck Resources finds a buyer for its Turkish gold assets.
And, coal development company, Coal of Africa Limited confirms that it's continuing discussions with Transnet Freight Rail regarding a public-private partnership on the Maputo rail corridor.

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