South African platinum miner Lonmin has surged its quarterly production and refinanced much of its near-term debt, in a sign that it is beginning to reap benefits from a radical restructuring programme commenced last year after demand for the precious metal plummeted. For full story, click here
Shares in Lonmin, the world’s third-leading platinum producer, had surged more than 4%, or about R7, to R174 on the JSE by midday yesterday after it issued a production report indicating it was on target to produce 700000oz of platinum in the year to September. For full story, click here
Lonmin, the world’s third-largest platinum producer, is not adjusting its sales guidance for the 2009 financial year despite platinum sales for the first half of the 2009 financial year topping initial expectations. For full story, click here
Get our independent commentary on platinum trends and companies delivered to your inbox.
