Lonmin Plc, the world’s third-biggest platinum producer, closes again for another 25-30 days because of its smelter failure. The company operates in South Africa. Analyst Charles Kernot at Evolution Securities is quoted saying: “Lonmin’s troubled smelter has failed yet again, further undermining the company’s outlook for the rest of this year.” Click here to access the entire news
Continue reading "Platinum Leader Lonmin Shuts Down Again"
Friday, July 24, 2009
Lonmin Plc, the world’s third-biggest platinum producer, posted a 1 percent slip in third-quarter refined platinum sales and said its troublesome No. 1 furnace would need another rebuild. For full story, click here
Continue reading "Lonmin Q3 Platinum Sales has dipped, furnace needs rebuild"
Tuesday, June 16, 2009
Platinum miner Lonmin took the wooden spoon after it said had closed down its leading furnace, based in South Africa. For full story, click here
Continue reading "Platinum Miner Lonmin has lead FTSE 100 rout"
Monday, June 15, 2009
Lonmin Plc, the world’s third-biggest platinum producer, declared that it has closed down its No. 1 furnace on Sunday due to a production incident, and commenced up three other furnaces with about half the capacity. For full story, click here
Continue reading "Lonmin declared closure of furnace, shares dipped"
Wednesday, June 10, 2009
Xstrata Plc. is still happy with a major stake in Lonmin Plc, but may have paid too much for it, the firm said, denying an analyst report that the CEO regretted the move. For full story, click here
Continue reading "Xstrata declared that it may be paid too much for Lonmin Stake"
Friday, May 29, 2009
Platinum miner Lonmin, up in line with prices for the precious metal, is reported to be still leading the FTSE 100 higher. For full story, click here
Continue reading "Platinum Miner Lonmin is leading the FTSE 100 higher"
Tuesday, May 12, 2009
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. For [...]
Monday, May 11, 2009
Lonmin Plc, the world’s third-leading platinum producer, dismissed 5,530 workers at its South African operations after demand plummeted due to the auto industry slump. For full story, click here
Continue reading "Lonmin has cut 5,530 workers at South Africa ops-Union"
Monday, April 27, 2009
Platinum declined last week; and continued the trend this Monday as uncertainty over the future of US automaker GM put the metal’s near future demand outlook into question. In the current state of the economy, the auto industry is unable to lend support to platinum; but the metal may get some relief from rising safe haven appeal.
Continue reading "Automaker uncertainty bad news for platinum"
Monday, April 27, 2009
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
Continue reading "Platinum miner Lonmin reported boost in quartely production"
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Monday, May 24, 2010