Monday, June 1, 2009.

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

Making headlines today:

The Zimbabwe government says it will soon impose a law to ban the export of raw chrome.

The government will hold a follow-up meeting with producers and chromite exporters to explain its position - the key element of which is a statutory insistence on value addition to the mineral before it can be traded on the international markets.

Zimbabwe is believed to have some of the world's largest, but least exploited, chrome reserves.

Mines and Mining Development Minister Obert Mpofu said the proposed ban on raw chrome exports was a loss-control measure. It aims to plug one of the major holes through which the country had been losing a lot of revenue.

The China Iron & Steel Association said that China's steel mills won't accept the iron ore pricing deal that Rio Tinto struck with Japanese and South Korean rivals last week.

CISA said the price cut of 33% for iron-ore fines and 44% for lump didn't reflect the real supply and demand situation on the international market, would drive Chinese mills into losses and didn't represent a "win-win" relationship between the iron-ore supplier and buyers.

China is aiming to take iron ore prices at least back to 2007 levels, which would imply cuts of 40% or more.

Also making headlines:

South Africa's President Jacob Zuma plans to focus on safety and black ownership in mining.
Australia's 2009 gold output is expected to increase.
US coal miner Peabody Energy is actively pursuing investments in Asia.
And, operations at Australia Oriental's Indonesian coal project are suspended.

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