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Lonmin PLC (LONJ.J)

LONJ.J on Johannesburg Stock Exchange

1,284.00ZAc
19 Sep 2017
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Mon, Aug 7 2017

Lonmin to sell surplus platinum capacity to raise cash

Platinum miner Lonmin Plc said on Monday it would cut costs and sell some assets, including processing capacity of up to 500,000 ounces per year, as it battles to overcome a weak market and to preserve jobs.

UPDATE 2-Lonmin to sell surplus platinum capacity to raise cash

* Analysts say could risk long-term gain for short-term survival (Adds quotes, detail, analyst comment, share price)

Lonmin to sell surplus platinum capacity to raise cash

Aug 7 Platinum miner Lonmin Plc said it would cut costs and monetise select assets, including the sale of excess processing capacity of up to 500,000 platinum ounces per year, to maximise cash from processing operations and preserve cash.

Miner Lonmin cuts costs, builds cash in Q3

LONDON, July 17 Platinum miner Lonmin cut more costs and improved its mining performance in its third quarter, it said on Monday, but falling metal prices continued to weigh.

Miner Lonmin confident it can turn around troubled business

LONDON South Africa-focused platinum producer Lonmin is pulling every lever to try to restore confidence in its ailing business, including reopening a major shaft and expanding its biggest operation, its chief executive said.

Lonmin shares tumble after costs trigger loss, deeper cuts planned

LONDON A drop in production and higher costs forced South Africa-focused platinum producer Lonmin to make deeper cuts and shift its headquarters on Monday as a first-half operating loss of $181 million knocked its shares.

UPDATE 1-Lonmin shares tumble after costs trigger loss, deeper cuts planned

* Shares fall sharply in London and Jo'burg (Adds detail, shares, quotes)

UPDATE 2-Protesters disrupt platinum producer Lonmin's operations in South Africa

* Lonmin says protests have lead to two shafts halting output

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