Monday, August eleven, 2008.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

Africa received a stern warning from South Africa's Deputy President on Friday. Phumzile Mlambo-Ngcuka said that Africa's growth and development ambitions were threatened by its anaemic skills investment.

She said that the continent must not allow the lack of skills development "to define why it is in a vicious cycle of poverty and global marginalisation".

She noted that while African countries could use foreign skills, it also needed to develop its own. Transport Minister Jeff Radebe delivered the speech in her absence:

(audio clip)

South African unions said on Saturday that they had agreed to a higher pay offer of 11,5% for striking workers at fixed-line phone company Telkom.

Members of the Communication Workers Union and the South African Communications Union went on strike to demand a bigger wage rise.

CWU's general secretary, Gallant Roberts, said in a statement that the unions resumed talks with Telkom on Friday. They agreed to an 11% pay rise, backdated to April 1, plus a further 0,5% from October 1.

Diversified miner Rio Tinto has filed a registration statement for a proposed initial public offering. This is for the common stock of its Cloud Peak Energy subsidiary.

Cloud Peak Energy holds most of the North American coal assets of Rio Tinto Energy America. This is one of the units that has been identified for possible sale as part of Rio Tinto's plans to sell at least 15-billion dollars worth of assets to reduce its debt after buying aluminium giant Alcan.

Rio Tinto expects to make a final decision on whether to pursue a listing of the shares of Cloud Peak Energy or to opt for another form of divestment once these options have been more fully explored.

Also making headlines:

The Nepad-linked undersea cable project is on track for completion by 2010
Property investors are urged to place more emphasis on green buildings
Nersa says the public has lodged no objections to Eskom's cogeneration pricing structure
Rand Uranium is ready for price-induced acquisition opportunities
London Mining enters the South African coal market with a 120-million dollar acquisition
And, a Burkina Faso mine collapse kills more than 30 miners

In political news:

Hopes grow for Zimbabwe's power-sharing deal
Public hearings on the Scorpions begin
Jacob Zuma launches street committees in Durban
And, a top Palestinian negotiator considers a binational state

Sign off:
That's a round up of news making headlines today. For more on these and other stories, visit engineeringnews.co.za, miningweekly.com and polity.org.za