Edition:
India

Lonmin PLC (LONJ.J)

LONJ.J on Johannesburg Stock Exchange

1,116.00ZAc
12 Dec 2017
Change (% chg)

55.00 (+5.18%)
Prev Close
1,061.00
Open
1,055.00
Day's High
1,167.00
Day's Low
1,050.00
Volume
470,864
Avg. Vol
228,559
52-wk High
3,108.00
52-wk Low
1,002.00

Latest Key Developments (Source: Significant Developments)

Lonmin's FY sales of 706,030 platinum ounces above co's guidance
Friday, 3 Nov 2017 

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 

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 

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 secures $50 mln funding for tailings project
Thursday, 18 Aug 2016 

Lonmin Plc : Lonmin secures $50 million funding for tailings project . First tranche of project funding of $9 million has now been received and work has already started on project . BTT project involves re-mining of Lonmin's easterns tailings dam .Project is part of Lonmin's business plan and is expected to produce lowest cost ounces in lonmin portfolio.  Full Article

Acacia Mining buys minority stake in West Kenya JV from Lonmin
Monday, 1 Aug 2016 

Acacia Mining Plc :Consolidates minority stake in West Kenya JV from Lonmin Plc for $5 million.  Full Article

Lonmin Q3 mined platinum ounces up 3.3 pct to 166,581 ounces
Monday, 1 Aug 2016 

Lonmin Plc : Total of some 243,000 tonnes of production lost in q3 due to section 54 safety stoppages compared to 260,000 tonnes in q3 2015 . Q3 mined platinum ounces up 3.3% to 166,581 . Unit costs for quarter were contained to r10,596 per pgm ounce, a year on year decrease of 2.2% .Expect to achieve platinum sales guidance of 700,000 ounces for year. Capital expenditure guidance remains unchanged at $105 million.  Full Article

Lonmin CEO says does not see further job cuts at current market conditions
Monday, 16 May 2016 

Lonmin Plc : CEO Ben Magara says do not anticipate at current market conditions to have any further job cuts, but conditions may change Further company coverage: [LMI.L] (((Bengaluru Newsroom +91 806 749 1136);)).  Full Article

Lonmin says H1 core profit $36 mln
Monday, 16 May 2016 

Lonmin Plc : Net cash has improved to $114 million as at March 31 2016. This is compared with $185 million net debt at Sept. 30 2015 . Reorganisation and s189 process successfully completed with 5,433 people having left group by March 31 . Total tonnes mined of 5.1 million in H1 2016 . H1 refined platinum production of 348,885 ounces was up 33.0 pct . H1 gross costs at r6,828 million were down r427 million on h1 2015 . H1 EBITDA for period was $36 million, this was $42 million higher than LBITDA of $6 million h1 2015 . For remainder of 2016 we expect automotive and chemical industry demand for platinum to remain firm . Prices are expected to remain lower than incentive prices for long term projects in platinum industry. . Capex guidance reduced from $132 million to $105. .Total revenue for six months ended March 31 2016 of $515 million reflects a marginal increase of $7 million.  Full Article

S.Africa's NUM says 5108 workers were retrenched at Lonmin PLC - Reuters
Thursday, 3 Mar 2016 

Lonmin PLC:S.Africa's NUM says is disappointed that 5108 workers were retrenched at Lonmin - RTRS.  Full Article

Lonmin PLC - South Africa's AMCU union says fewer jobs to be lost at Lonmin after negotiations - Reuters
Wednesday, 2 Mar 2016 

Lonmin PLC:South Africa's Association of Mineworkers and Construction Union (AMCU) said on Wednesday fewer jobs would be lost at platinum producer Lonmin following talks with the company - RTRS.The union did not immediately give a figure of workers fired by the firm which has struggled following a sharp slide in the price of platinum over the past year.  Full Article

Photo

Lonmin to cut social, discretionary spending to save cash

JOHANNESBURG/LONDON Troubled platinum producer Lonmin plans to cut spending on social and labour projects and freeze "non-critical" recruitment, part of an array of measures to save cash, according to an unpublished presentation reviewed by Reuters.