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Lonmin PLC (LONJ.J)

LONJ.J on Johannesburg Stock Exchange

1,120.00ZAc
15 Oct 2018
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Latest Key Developments (Source: Significant Developments)

Lonmin Says ‍Sibanye-Stillwater Files With S.A Competition Commission On Lonmin Deal​
Friday, 16 Mar 2018 03:30am EDT 

March 16 (Reuters) - Lonmin Plc ::‍SIBANYE-STILLWATER FILES WITH COMPETITION COMMISSION​.‍SIBANYE-STILLWATER AND LONMIN REMAIN COMMITTED TO PROPOSED TRANSACTION WHICH THEY CONTINUE TO EXPECT TO CLOSE IN SECOND HALF OF THIS YEAR.​.  Full Article

Lonmin Updates On Director Irrevocable Undertakings On Sibanye Deal
Tuesday, 30 Jan 2018 07:00am EST 

Jan 30 (Reuters) - Lonmin Plc ::ORIGINAL UNDERTAKINGS RLEATED TO SIBANYE DEAL TERMINATED, REPLACED BY NEW IRREVOCABLE UNDERTAKINGS FROM RELEVANT DIRECTORS ON JAN 29.‍REVISED IRREVOCABLE UNDERTAKINGS RELATED TO SIBANYE DEAL ARE ON SUBSTANTIALLY SAME TERMS AS ORIGINAL IRREVOCABLE UNDERTAKINGS.  Full Article

Lonmin Says FY Sales Guidance Maintained At Between 650,000 And 680,000 Platinum Ounces
Monday, 22 Jan 2018 02:20am EST 

Jan 22 (Reuters) - Lonmin Plc ::SALES GUIDANCE FOR FULL YEAR IS MAINTAINED AT BETWEEN 650,000 AND 680,000 PLATINUM OUNCES.‍MAINTAINING FY UNIT COST GUIDANCE OF BETWEEN R12,000 AND R12,500 PER PGM OUNCE​.CAPITAL EXPENDITURE GUIDANCE FOR YEAR OF BETWEEN R1.4 BILLION AND R1.5 BILLION IS MAINTAINED.‍PLATINUM SALES FOR QUARTER WERE 147,216 OUNCES, 9.1% HIGHER THAN PRIOR YEAR PERIOD SALES OF 134,954 OUNCES.​.‍AS PART OF OPERATIONAL REVIEW, IDENTIFIED COST REDUCTION INITIATIVES, TO REDUCE ANNUAL OVERHEAD COSTS BY A MINIMUM OF ZAR500 MILLION BY END OF SEPT 30 2018.​.SEES SUBSTANTIAL MAJORITY OF OVERHEAD REDUCTIONS TO COME FROM NON-PRODUCTION CENTRAL FUNCTIONS, HIGH COST PRODUCTION AREAS.‍A SECTION 189 PROCESS COMMENCED IN OCTOBER 2017 AND IS ONGOING, WITH OVER 600 EMPLOYEES ALREADY HAVING LEFT BUSINESS​.‍MARIKANA MINING OPERATIONS, INCLUDING PANDORA PRODUCED 2.4 MILLION TONNES DURING QUARTER, UP 2.4% ON COMPARATIVE PERIOD​.  Full Article

Lonmin Sees FY 2018 Platinum Sales Between 650,000 And 680,000 Ounces
Monday, 22 Jan 2018 02:20am EST 

Jan 22 (Reuters) - Lonmin Plc ::SEES FY 2018 PLATINUM SALES BETWEEN 650,000 AND 680,000 OUNCES.SEES FY 2018 UNIT COSTS EXPECTED TO BE IN RANGE OF R12,000 TO R12,500 PER PGM OUNCE.‍FY LOSS BEFORE TAX $1,170 MILLION FOLLOWING IMPAIRMENT (2016 - $355 MILLION)​.SEES FY 2018 CAPITAL EXPENDITURE ANTICIPATED TO BE LIMITED TO A RANGE OF R1.4 BILLION TO R1.5 BILLION.FY REVENUE OF $‍1,166​ MILLION VERSUS. $1,118 MILLION LAST YEAR.‍2017 SALES OF 706,030 PLATINUM OUNCES, EXCEEDED SALES GUIDANCE OF 650,000 TO 680,000 PLATINUM OUNCES​.‍UNIT COSTS IN 2017 INCREASED BY 8.9% TO R11,701, PARTLY IMPACTED BY 8% INCREASE IN LABOUR COSTS​.EXPECT SIBANYE-STILLWATER TRANSACTION TO CLOSE IN SECOND HALF OF 2018 CALENDAR YEAR​.CUTS TO PRODUCTION BY SOUTH AFRICAN PRODUCERS INITIATED IN 2017 ARE EXPECTED TO RESULT IN REDUCED PLATINUM OUTPUT NEXT YEAR.FY 2017 IMPAIRMENT OF NON-FINANCIAL ASSETS OF $1,053 MILLION - DRIVEN BY CHANGE IN BUSINESS PLAN AND ASSUMPTIONS.  Full Article

Revised Sibanye-Stillwater Business Plan Could Affect A Further 890 Staff
Thursday, 14 Dec 2017 04:53am EST 

Dec 14 (Reuters) - Lonmin Plc ::LONMIN TO PUBLISH ANNUAL FINANCIAL STATEMENTS IN JANUARY 2018- SIBANYE PRESENTANTION.SIBANYE SAYS EXPECTS COMPETITION CLEARANCE TO BE OBTAINED IN H2 2018.LONMIN SHAREHOLDER APPROVAL AND COURT MEETING EXPECTED IN H2 2018.SIBANYE-STILLWATER SHAREHOLDER APPROVAL EXPECTED IN H2 2018.LONMIN CEO SAYS BELIEVES OFFER IS IN THE BEST INTERESTS OF LONMIN, LONMIN SHAREHOLDERS AND OTHER STAKEHOLDERS.LONMIN CEO SAYS LONMIN CONTINUES TO BE HAMSTRUNG BY LIQUIDITY CONCERNS.SIBANYE-STILLWATER REVISED MINE PLAN SEES JOB CUTS OF APPROX 12,600 EMPLOYEES OVER THREE YEARS AS LONMIN GENERATION ONE SHAFTS REACH END OF LIFE.REVISED SIBANYE-STILLWATER BUSINESS PLAN COULD AFFECT A FURTHER 890 STAFF.  Full Article

Sibanye-Stillwater proposes to acquire Lonmin in deal valued at 285 mln pounds
Thursday, 14 Dec 2017 02:00am EST 

Dec 14 (Reuters) - Sibanye-Stillwater ::‍PROPOSED ACQUISITION OF LONMIN BY SIBANYE-STILLWATER​.‍EXPECTS TRANSACTION TO BE NET ASSET VALUE ACCRETIVE ON CLOSING, EARNINGS AND CASH FLOW ACCRETIVE IN RESPECT OF SIBANYE-STILLWATER SHARES FROM 2021​.‍UNDER TERMS OF OFFER EACH LONMIN SHAREHOLDER WILL BE ENTITLED TO RECEIVE FOR EACH LONMIN SHARE 0.967 NEW SIBANYE-STILLWATER SHARES​.‍EACH LONMIN SHAREHOLDER WILL BE ENTITLED TO RECEIVE FOR EACH LONMIN SHARE 0.967 NEW SIBANYE-STILLWATER SHARES​.‍OFFER VALUES EACH LONMIN SHARE AT 86.3 PENCE AND REPRESENTS PREMIUM OF ABOUT 35 PCT TO CLOSING PRICE PER LONMIN SHARE OF 63.8 PENCE ON 13 DEC 2017​.REALISED R550 MILLION/ANNUM IN ANNUALISED OPERATIONAL SYNERGIES AS AT 30 JUNE 2017, SEES R1 BILLION OF ANNUALISED SYNERGIES BY 2018​.‍IDENTIFIED EXPECTED TOTAL PRE-TAX RUN-RATE SYNERGIES OF APPROXIMATELY R1,500 MILLION BY 2021​.‍ESTIMATES IMPLEMENTATION OF OVERHEAD SYNERGIES WOULD GIVE RISE TO EXPECTED ONE-OFF COSTS OF R80 MILLION, HEADCOUNT REDUCTION OF ABOUT 700​.‍IMPLEMENTATION OF PROCESSING SYNERGIES WOULD GIVE RISE TO EXPECTED ONE-OFF COSTS OF APPROXIMATELY R1,000 MILLION​.‍ASIDE FROM ONE-OFF COSTS REFERRED, DOES NOT EXPECT ANY MATERIAL DIS-SYNERGIES TO ARISE IN CONNECTION WITH ACQUISITION​.LONMIN BELIEVES IF LOW PGM PRICES PERSIST, REGARDLESS OF ACQUISITION IMPLEMENTED, POTENTIALLY IN EXCESS OF 12,000 JOBS IN LONMIN WOULD BE AT RISK OVER NEXT 3 YRS.  Full Article

Lonmin Says Completes Acquisition Of Pandora ​
Wednesday, 13 Dec 2017 02:00am EST 

Dec 13 (Reuters) - Lonmin Plc ::‍Lonmin Completes Acquisition Of Pandora ​.  Full Article

Lonmin's FY sales of 706,030 platinum ounces above co's guidance
Friday, 3 Nov 2017 03:07am EDT 

Nov 3 (Reuters) - Lonmin Plc ::LONMIN PLC - ‍SALES OF 218,687 PLATINUM OUNCES FOR Q4 INCREASED BY 3.6% ON Q4 OF 2016​.‍UNIT COSTS FOR Q4 WERE R11,524 PER PGM OUNCE (6E BASIS), AN INCREASE OF 4.3% ON Q4 OF 2016​.LONMIN PLC - ‍SALES FOR YEAR WERE 706,030 PLATINUM OUNCES, EXCEEDING SALES GUIDANCE OF 650,000 TO 680,000 PLATINUM OUNCES​.LONMIN PLC - ‍UNIT COSTS FOR QUARTER R11,524 PER PGM OUNCE, A YOY INCREASE OF 4.3%, WITHIN REVISED GUIDANCE OF BETWEEN R11,300- R11,800​.LONMIN PLC - ‍FOR YEAR, UNIT COSTS INCREASED BY 8.9% TO R11,701 PER PGM OUNCE​.LONMIN PLC - ‍PLATINUM SALES EXPECTED TO BE BETWEEN 650,000 AND 680,000 OUNCES FOR FY 2018​.LONMIN PLC - ‍UNIT COSTS REMAIN UNDER PRESSURE AND ARE EXPECTED TO BE IN RANGE OF R12,000 TO R12,500 PER PGM OUNCE IN FY 2018​.LONMIN PLC - ‍CAPEX ANTICIPATED TO BE LIMITED TO A RANGE OF R1.4 BILLION TO R1.5 BILLION FOR EACH OF YEARS ENDING 30 SEPTEMBER 2018, 2019 AND 2020​.  Full Article

Lonmin responds to Mining Forum comments
Thursday, 26 Oct 2017 05:21am EDT 

Oct 26 (Reuters) - Lonmin Plc :‍NOTES COMMENTS QUOTED IN MEDIA ATTRIBUTED TO MINING FORUM SOUTH AFRICA AND BAPO BA MOGALE INVESTMENTS​."‍A NUMBER OF GROSSLY INCORRECT STATEMENTS HAVE BEEN QUOTED AND REQUIRE CLARITY"​."‍COMPANY'S COMPLIANCE WITH ITS SOCIAL AND LABOUR PLAN (SLP) IS OF ABSOLUTE IMPORTANCE TO LONMIN".‍WILL CONTINUE TO ENGAGE AND REPORT ON ITS SLP ACTION PLAN WITH DMR​.‍WILL CONTINUE TO ENGAGE WITH BAPO BA MOGALE AND ALL OTHER STAKEHOLDERS THROUGH OFFICIAL AND RECOGNISED CHANNELS THAT HAVE BEEN JOINTLY SET UP​."IN CONSULTATION WITH EMPLOYEES ABOUT NEED TO PROTECT EMPLOYMENT OF MAJORITY OF OUR WORKFORCE BY REDUCTION OF SOME 1,139 CONTRACTORS, EMPLOYEES".  Full Article

SA's Solidarity says Lonmin plans to cut 1,139 jobs
Monday, 23 Oct 2017 10:22am EDT 

Oct 23 (Reuters) - SOUTH AFRICA'S SOLIDARITY::SOUTH AFRICA'S SOLIDARITY - ​ ‍LONMIN HAS INFORMED SOLIDARITY THAT COMPANY IS PLANNING TO REDUCE ITS WORKFORCE BY 1 139 WORKERS BEFORE CHRISTMAS​.SOUTH AFRICA'S SOLIDARITY - ‍LONMIN SAYS THAT PLATINUM SECTOR IS UNDER PRESSURE DUE TO LOW PLATINUM PRICES AND RISING COSTS THAT NECESSITATE RETRENCHMENTS​.  Full Article

Lonmin's largest shareholder backs takeover by Sibanye-Stillwater

LONDON South Africa's Public Investment Corporation (PIC) said it will support a takeover of platinum producer Lonmin by precious metals producer Sibanye-Stillwater .