Congo mining revenues triple in H1; oil revenues fall by a third

A strike appears imminent at Rio Tinto's Rssing Uranium Mine in the Namibian-Naukluft Park (pictured) after workers unhappy over production bonuses on Wednesday voted unanimously in favour of industrial action that could cripple operations at the mine responsible for some 5% of world production. Management said the demands were unreasonable and defeat logic. The industrial action takes place at a difficult time for the uranium industry with the spot price recently falling below $50 – levels last seen immediately after the nuclear accident at Fukushima. The sector has lost some 40% of its value since the Japan disaster and the first deal of what is expected to be widespread consolidation in the industry is already shaping up to be a classic David and Goliath fight.

Mbada Mines (Pvt) Ltd, which operates in Zimbabwe's Marange diamond area, is producing more than 150,000 carats a month, surpassing Rio Tinto's Murowa mine as the country's largest diamond producer, according to the firm's chairman, Robert Mhlanga. Rio Tinto's Murowa diamond mine produced 178,000 carats in 2010 and 125,000 in the first half of 2011.

IMX Resources Limited (ASX:IXR) is pleased to announce that initial metallurgical testwork has confirmed that high grade nickel concentrates with high recoveries can be produced from the multiple Ntaka Hill ore zones at the Nachingwea Ni-Cu joint venture in Tanzania. The Project is a joint venture between IMX Resources Limited (25%) and Continental Nickel Limited (75%).

Nine months overdue, the diamond marketing contract between the Government of Botswana and De Beers will finally be signed tomorrow in Gaborone, Mmegi reported on Thursday.

A Zimbabwe government official says a law forcing foreign companies to surrender 51 percent stakes to local people was "an aspiration," not a hard target, Reuters is reporting: "This is a negotiated process, it is not an issue that is dictated to companies. It is more to deal with evaluating and negotiating with each company," Prince Mupazviriho, the permanent secretary in the mines ministry, said during a mining conference on Thursday. The new position by the government is a change from the previous hard-line edict suggesting the 51% requirement was set in stone.

Zimbabwe's mines minister on Thursday told delegates at a conference in the capital Harare that the government has received 400 applications from companies interested in mining diamonds, despite an international ban on the export of gems from the rich Chiadzwa alluvial fields. The news comes as Zimbabwe appears to scale back its ambition to force foreign miners to hand over majority ownership with the minister saying the country would not suspend any mining permits and that exceptions may be made to the so-called indigenization laws.

Anvil Mining (TSE:AVM), a copper miner based in the central Africa, tamped down speculation that it may be acquired for $1 billion. Australian Finance Review reported that it was in serious discussion with a Chinese firm about some sort of business tie up. Last month, Anvil announced that it started a strategic review process and the company had formed a special transaction committee to ". . . review and consider the value maximizing alternatives available to the Corporation. BMO Capital Markets has been retained to assist in this regard," said the company in a statement.

The British Geological Survey (BGS) on Wednesday published the latest list of the 52 elements, minerals and metals most at risk of supply disruption because global production is concentrated in a few countries, many with unstable governments. Surprisingly rare earths used in green technology and defence do not top the list but comes in at number five. Antimony, extracted mainly from stibnite (pictured), widely used for fireproofing is most at risk. The platinum group metals (auto catalysts) hold the second spot while niobium used in touch screens and scanners and tungsten for cutting tools are also at risk of supply disruption as a result of increased competition among the world's growing economies, political instability, resource nationalism, along with events such as strikes and accidents. China is the number one producer of 50% of the 52 chemicals on the list and produces 75% of the world's antimony.

PERTH, WESTERN AUSTRALIA--(Marketwire - Sept. 12, 2011) - Paladin Energy Ltd ("Paladin" or "the Company") (TSX:PDN) (ASX:PDN)wishes to note that the Company's Board of Directors advise that financial close has been reached under the Langer Heinrich Project Finance Facility ("Facility"), and Paladin has submitted a drawdown notice for US$127.2M.