MINING.COM Staff Writer

Miningmx reports on the fortunes of the South African platinum sector, the dominant global supplier where production peaked at about 5.3 million ounces in 2006, up from just over 4 million ounces in 2001, but has fallen ever since. Regulatory and legislative uncertainty, the threat of nationalisation and the strength of the rand are preventing the mining industry from participating fully in the latest chapter of the super cycle, and if the basket price of platinum group metals does not improve, further capital expansion plans could be halted.

SW Radio Africa reports the seemingly unilateral decision by the chairman of the international diamond trade watchdog to allow Zimbabwe to resume diamond exports has been rejected by among others the United States, Canada and Israel. Some members of the industry body want to keep a ban on exports of Zimbabwe's diamonds which could potentially be worth $2bn/year and include a vast stockpile built up during international sanctions, because of ongoing smuggling out of the rich Chiadzwa fields and reports of sustained human rights abuses there.

FLSmidth has received a contract worth approximately USD 50m (approximately DKK 260m) from Kalumbila Minerals Ltd., a wholly owned subsidiary of First Quantum Minerals Ltd. for the supply of equipment to their extensive copper development, Sentinel Project, situated in northern Zambia.

BusinessDay reports on Wednesday Rio Tinto vowed not to abandon its uranium ambitions, despite conceding the recent crisis at the Fukushima nuclear power plant would slow growth in the uranium mining and nuclear power sectors for several years. Nuclear energy represents about 14% of global electricity and is set grow: 25 new plants are currently under construction in China and some 100 are on the drawing board to add to the 400 operating around the world. Uranium prices fell immediately following the Japan earthquake, but have since recovered to around US$55 per pound.