Platinum Investing News » Lonmin warned that there will be no platinum rebound before 2011/12

Lonmin warned that there will be no platinum rebound before 2011/12

May 12, 2009 @ 11:39 am In Platinum Company News

There would be no platinum price rebound before 2011/2012, a defensive Lonmin CEO Ian Farmer warned on Monday as he set out to surge $457-million in a rights issue and cut rand-based gross operating costs still further in South Africa, where 6 400 jobs have already been shed and 600 more are expected to go.

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[1] here: http://www.miningweekly.com/article/no-platinum-rebound-before-201112-defensive-lonmin-warns-as-it-raises-457m-2009-05-11