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Lonmin PLC (LONJ.J)

LONJ.J on Johannesburg Stock Exchange

1,510.00ZAc
15 Dec 2017
Change (% chg)

170.00 (+12.69%)
Prev Close
1,340.00
Open
1,352.00
Day's High
1,510.00
Day's Low
1,352.00
Volume
1,534,043
Avg. Vol
261,190
52-wk High
3,108.00
52-wk Low
1,002.00

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Fri, Dec 15 2017

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Jobs the centre-piece of Sibanye-Lonmin merger scrutiny: Lonmin CEO

LONDON Plans to cut around 13,000 jobs are likely to be the biggest obstacle to miner Sibanye-Stillwater winning South African regulatory approval for its proposed takeover of troubled rival Lonmin , the CEO of Lonmin told Reuters.

South Africa's Sibanye-Stillwater to be No. 2 platinum miner with Lonmin buy

LONDON/JOHANNESBURG South Africa's Sibanye-Stillwater agreed to buy troubled miner Lonmin for about 285 million pounds ($382 million) to create the world's No. 2 platinum producer in a bid to ride out depressed prices for the metal.

Lonmin labor union considers taking action to fight Sibanye takeover

LONDON Lonmin's main labor union in South Africa said on Thursday it would consider mass action to oppose the takeover of the struggling platinum miner by Sibanye-Stillwater , which Sibanye has already said will lead to 12,600 job cuts.

UPDATE 5-South Africa's Sibanye-Stillwater to be No. 2 platinum miner with Lonmin buy

* Lonmin underperforms peers: http://bit.ly/2zbL36M (Updates with union comment, closing Lonmin shares)

Breakingviews - South African gold giant throws Lonmin a lifeline

LONDON (Reuters Breakingviews) - A South African giant has come to Lonmin’s rescue. Gold miner Sibanye-Stillwater has offered to buy the troubled platinum specialist for shares worth 246 mln pounds. The offer is far from generous when compared with available cost savings. But Lonmin’s financial woes and inability to raise equity make a share of a larger group look attractive.

South Africa's Sibanye-Stillwater to buy troubled platinum producer Lonmin

Dec 14 South Africa's Sibanye-Stillwater has agreed to buy Lonmin, valuing the troubled platinum producer at about 285 million pounds ($382.47 million), the two companies said on Thursday.

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.

UPDATE 1-South African stocks close higher; Lonmin in focus

JOHANNESBURG, Nov 6 South African stocks ended higher on Monday with Lonmin in the spotlight amid growing concerns about the future of the platinum miner.

UPDATE 2-Strike threat adds to headaches for Lonmin chief executive

* Union threatens strike in coming weeks (Adds Solidarity union comment)

Lonmin to showcase social projects after share price meltdown

* Company has fallen short in the past on its social obligations

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