Frik Els , Editor

ComputerWorld reports Anglo American has said optimising its procurement, asset management, knowledge systems and shared services will be vital in making the most from its $5.1 billion takeover of De Beers, announced on Friday.

The cash at the world's top six mining companies is estimated to top out at $144 billion by end 2013 and M&A activity this year is already up 67% over 2010. The gold sector has been leading the frenzy and the stock market is where they will be looking to find additional ounces.

Top management and eight shareholders who control 73.9% of the outstanding shares of TSX-Venture listed Sino Vanadium on Friday announced that they are taking the tiny firm private. The company first listed in June 2009. The share tripled on Friday to 21c and 108,200 shares changed hands compared to the usual 1,000. The company is offering 27c to shareholders who turn in their shares over the next month, so some investors appear to be cashing in early. Sino Vanadium owns 100% of a project in China's Shaanxi Province in the feasibility stage which it says could produce 14% of world vanadium supply.

South Africa's mineral resources minister Susan Shabangu is on a road show in Australia and the UK to quell fears of mine seizures and drum up new investment for the country. So far few are suspending their disbelief over nationalization.

BusinessDay reports De Beers has no intention of reducing its interests in South Africa and will up planned investment in its new Venetia underground mine by more than $600 million to $1.9 billion. The Venetia expansion comes after the company this week signed a new $2 billion multi-currency credit facility and the sale of its disused SA mines. De Beers Consolidated Mines delisted from the Johannesburg Stock Exchange in May of 2001 after more than a hundred years on the South Africa bourse when the Oppenheimer family took the firm private.

Gem Diamonds' Letšeng mine continued to polish its reputation as the world's richest source of large diamonds, the London-listed company reported in a management statement covering July to October. 15 diamonds were found that were sold for more than $1 million and 50 roughs fetched prices greater than $20,000/ct;  one fancy pink went for $156,000 /ct.  Letšeng also recovered 171 diamonds greater than 10.8 ct in size. Excluding the 550ct Letšeng Star sold for $16.5 million last month, the mine averages sales of $2,425/ct. No wonder then that the board will meet this month on a feasibility study expanding capacity 75%.

Reuters reports leaders in Peru's Cajamarca region demanded on Wednesday that Newmont Mining and partner Buenaventura abandon their $4.8 billion Conga project after talks with the central government broke down. The president of Cajamarca said massive protests will be held next week. In October, Newmont was forced to briefly shut down adjacent Yanacocha, South America's largest gold mine over the protests. Conga would be the biggest investment ever in Peru mining and is a crucial test for the country's new president Ollanta Humala, who campaigned on ending conflicts over natural resources.

ZeeNews report the world's largest steel-maker ArcelorMittal on Thursday reported a dip of over 51% in net income to $659 million for the quarter ended September 30, 2011, due to rising raw material costs and a fall in demand. The Indian giant also said it will face increasing pricing and volume pressures in the final quarter and is idling production as a result – it has mothballed eight furnaces in Europe and permanently retired another just over the last two months. Arcelor's gloomy outlook prompted one analyst to observe: "We're in a very dark market environment right now."

Equipment failure that put a huge dent in production and which is now the subject of a $140 million insurance claim, higher input costs as a result of increased electricity charges, and three fatalities and a pricing dispute with a unit of Anglo American were the main reasons given for a headline loss of $58 million for the quarter.

South Africa's National Union of Mineworkers (NUM) called off a strike on Wednesday after reaching a deal with Xstrata over the coal giant's voluntary employee share ownership plan. Xstrata agreed to allocate shares to workers equally and not based on employment grade, NUM's one gripe. Mine ownership and nationalization are once again fiercely debated topics in the country 17 years after the end of white rule and observers believe SA’s allure as an investment destination has been tarnished by the heavy weather accompanying the Xstrata deal. The plan gives workers 3% of the company and is over and above the company’s 26% local ownership obligations which it already meets.