Frik Els , Editor

Canada's Sono Resources Inc announced on Tuesday that the final $100,000 cash payment for the year has been made and that Sono will now issue the vendors 6,500,000 common shares from treasury thus finalizing its purchase of 95 percent of the issued and outstanding shares of Bonnyridge (Pty) Ltd., which is the legal and beneficial owner of three mineral license blocks located in Northwestern Botswana.

Silver Falcon Mining announced on Tuesday it had cast 17 troy ounces at War Eagle Mountain, making it the first report of precious metal smelting in over 100 years at the historic Idaho site. Stock in the tiny company rose as much as 24% on triple the usual volumes on the news bringing its gains for the year to over 72%. Silver Falcon said it will now switch focus from processing the old tailings and commence with exploration activities now that weather inaccessibility is no longer a problem.

Suriname's only commercial gold mine, the Rosebel Gold Mine which is majority owned by Canada's Iamgold, has been shut down by a strike by 1,100 workers protesting new longer shift hours. Rosebel is located some 118 kilometers south of Paramaribo (pictured), the capital of the South American nation. The mine produced 395,000 ounces in 2010 at cash cost of $484 per ounce. While Rosebel is the country's only commercially operated mine, there are believed to be thousands of small scale miners operating in the tiny, impoverished country.

Businessweek quotes a confidential report prepared for South Africa's mining CEOs as saying South Africa’s ruling party is closer to some form of nationalization than at any other time since the end of apartheid. A government takeover of mines could choke investments in a country with metal and mineral reserves estimated at 2.5 trillion and lead to a collapse of the currency, the rand. Firebrand Julius Malema (pictured), the leader of the youth wing of the ruling African National Congress which often acts as kingmaker in the country’s politics, is spearheading the campaign to seize mines, farms and banks. Malema is never far from headlines in the country with racially charged comments but now an anti-corruption police unit is probing a trust fund owned by him allegedly being used to funnel payments in exchange for securing government tenders.

African Minerals Ltd., closed up 7.1% in London on Monday after completing an investment accord with Shandong Iron & Steel Group Co bringing the counter's gains for the year to 57% and giving it a market capitalization of some $3.6 billion. Shandong will invest $1.5 billion for a 25% stake in African Minerals' massive the Tonkolili iron-ore project in Sierra Leone. Phase I of the project will cost $1.2bn and includes railway and port reconstruction in the war torn country while phase II and III will add another $8 billion to the bill. Sierra Leone, one of the world's poorest nations, is attracting increasing investments in its natural resources which also include diamonds and bauxite.

The Korea Herald reports a Korean consortium forged an agreement with Bolivia’s state-run miner Comibol over the weekend to manufacture lithium-ion battery parts, boosting Korea’s bid to tap the largest lithium deposits in the world. A research project involving extracting lithium will begin next month at Bolivia’s Salar de Uyuni – an 11,000 square kilometers salt flat (pictured) – with plans for constructing lithium-carbonate processing facilities. The soft, silver-white metal is widely used in rechargeable batteries for mobile phones, laptops and electric cars and the price has been steadily increasing prompting talk of a Opec-style cartel to control production and prices among South American nations that together control 85% of the world's resources.

Gold futures lost over $16 early on Monday after US lawmakers and the Obama administration reached an 11th-hour agreement on raising the federal debt ceiling, but quickly pared the losses after data showed manufacturing activity at its lowest level in two years in the US and shrinking factory output in China. December gold initially retreated from the record settlement of $1,631.20 an ounce on Friday, trading as low as $1,608.20 before jumping back to within striking distance of record levels at the same time New York stock markets suffered a 200-point reversal, turning triple digit gains into a sharp sell-off spooked by the economic data.

In late morning trade shares in Miraflores-based Portage Resources had gained more than 12% after announcing a 10:1 future stock split that would, after cancellation of some of the shares held by its CEO, bring the total number in issue to a whopping 4.45 billion. When MINING.com reported on Portage Resources a fortnight ago the counter had gone from 2c to 65c a share in the matter of three months. The explorer has been snapping up properties in Peru hitting pay-dirt with reserves of 58 million ounces of silver at one of them. Portage is a prime example of how volatile stocks in juniors miner can be: its 52-week high is $1.24 and despite Monday's 12% jump to 32c, the stock is worth half of what it was just five trading days ago.

Toronto-listed Scorpio Mining Corp reported a quarterly profit helped by production ramp-up at its Nuestra Señora mine in Mexico, but missed market estimates compiled by Reuters, sending its shares to close just under 4% down. Vancouver-based Scorpio reported a net income of C$3.3 million and strong cash flow from operating activities in Q2 2011 of $11,9 million as recovered silver equivalent ounces reached 1,548,174, an increase of 79% from 2010 and contained metals produced in concentrates jumped 92% to of 734,558 ounces.

The Zimbabwe Independent quotes finance minister Tendai Biti (pictured) on Friday as saying the reality of Zimbabwe's situation is that there is no connection between Zimbabwe’s income from diamonds, its output and international prices adding the country's resources are in danger of turning into curse rather than a blessing. Zimbabwe exported 716 958,50 carats from its alluvial diamond mines but only $103,9 million of diamond export shipments was accounted for in the first half of the year. The military seized control of the rich diamond fields in Chiadzwa in 2006 and most observers believe an international ban on these gems are being widely flouted.