Miner Lonmin narrows first-half loss, cuts annual spending target

LONDON, May 14 (Reuters) - Lonmin said on Monday it narrowed its first-half operating loss and lowered its spending target for the year as the platinum miner prepared for a merger with Sibanye-Stillwater,

The London-listed miner, which is being bought by Sibanye-Stillwater, reported a first-half operating loss of $32 million compared with a loss of $181 million a year earlier.

It lowered its full year capital expenditure target to 1.2-1.3 billion rand ($98 million-$106 million) from 1.4-1.5 billion.

($1 = 12.2525 rand)