May 10, 2019 / 6:29 AM / 2 months ago

Lonmin says FY sales to be at lower end of forecast

May 10 (Reuters) - Platinum miner Lonmin , which is in the process of being taken over by Sibanye-Stillwater, expects full-year sales to be at the lower end of its target range, it said on Friday after reporting a drop in quarterly output.

The company, which has warned on liquidity earlier in the year, said total platinum production fell 12.3 percent to 125,803 ounces for the three months ended March 31.

Lonmin has been cutting thousands of jobs and reigning in spend to weather tough market conditions. In April it agreed to a revised all-share deal with Johannesburg-listed Sibanye-Stillwater. (Reporting by Muvija M in Bengaluru; editing by Gopakumar Warrier)

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