Lonmin is the third largest primary producer of Platinum in the world, producing over 900,000 ounces of Platinum and a similar number of ounces of the other Platinum group metals such as Palladium and Rhodium. Its operations are located in the district of Marikana, near Rustenberg, in the North West Province of South Africa.

            Red = 25 day moving average.           Green = 200 day moving average.

SALES PER ACTIVITY (Data as of 30/09/2005)

Platinum extraction: 100%

Chart looks better now.

The bounce is back on..!

If it manages to break 1200p its all the way to 1400p.

any views on how far this will drop? all the way to 9???

Maybe the price of platinum will rise,due to the economy of India...(Hopefully).

StockMarketWire.com
Platinum producer Lonmin's third quarter production was hit by two fatalities in April and illegal industrial action at the Karee operations in May.

Lonmin says it has made good progress in restoring production and expects to be back to normal operating levels by August.

It adds: "Considerable progress has been made with the safety initiatives.

"We continue to intensify our focus on these initiatives and our LTIFR (lost time injury frequency rate) has fallen during the quarter from 5.4 at the half year to 5.1 as at 30 June 2011."

Overall, tonnes mined of 2.5 million for the quarter, reflected a decrease of 168,000 tonnes, equivalent to a 6.2% reduction against the prior year.

But it says that year-to-date, underground tonnage mined and milled is up on the comparable prior year period and its metals in concentrate has also increased.

Ex-divi wed 11th Jan 2012 (15¢)

South African police shoot dead striking miners

MARIKANA, South Africa | Thu Aug 16, 2012 11:56pm BST

(Reuters) - South African police opened fire on striking miners armed with machetes and sticks at Lonmin's Marikana platinum mine on Thursday, killing at least a dozen men in scenes that evoked comparisons with apartheid-era brutality.

In the incident, filmed by Reuters television, officers opened up with automatic weapons on a group of men who emerged from behind a vehicle and started loping towards police lines.

This is disgraceful and very uncaring of Lonmin, showing no sympathy for the dead... the workers should just quit as the company show no respect.



Lonmin tells striking South African workers to return to work or risk losing their jobs


FTSE 100 miner Lonmin has ordered employees at the South African mine where 34 workers were shot dead to return to work or risk losing their jobs.

Lonmin said that the ultimatum is a “last opportunity to return to work” for the 3,000 employees who took part in strikes that led to some of the worst violence seen in South Africa since apartheid.

A total of 44 people have died due to the violence at the Marikana mine, with 34 shot by police.

The violence stemmed from a rivalry between the militant Association of Mineworkers and Construction Union and the National Union of Mineworkers, which has ties to the ruling African National Congress.

Workers said the order from the company is an “insult”.

The chart clearly shows the company is in trouble even before this massacre of its workers. SELL.

Quarter of Lonmin mine strikers return to work following massacre


A quarter of the workforce have returned to the Marikana platinum mine in South Africa where 44 men were killed last week.

Mine-owner Lonmin threatened about 3,000 striking workers with dismissal if they did not show up at Marikana, 100km northwest of Johannesburg.

The mayhem was sparked by a spreading battle for membership between the NUM and the Association of Mineworkers and Construction Union, which has accused its rival of caring more about politics and personal enrichment than workers.

Investigators appointed by President Jacob Zuma, who has declared a week of mourning, are expected at the mine.

Lonmin, the world's third-largest platinum producer, said in a statement that, with unions, it would address a news conference this afternoon "in a bid to attract people back to work.

It said 27.3% at the Marikana mine, which employs 28,000 people, had returned to work.

Does the management of Lonmin think they can treat people like slaves?

Think again.

Lonmin will collapse if they do not appease the miners.

£6 has been support before.

In answer to hlyeo's post #30, it's not a simple as it seems and it looks like there are a number of vested interests distorting the picture to make it look like a simple management/worker dispute.
Reuters "Some workers belong to the Association of Mineworkers and Construction Union (AMCU), whose bloody turf war for members with the dominant National Union of Mineworkers (NUM) was the backdrop to Thursday's killing of 34 striking platinum miners by police at the Marikana mine.

When Aquarius, the world's 4th largest producer of the precious metal, closed production at Everest, it cited worsening industrial relations stemming from the AMCU/NUM battle which has turned workers into warriors across the platinum sector.

The country's ruling African National Congress is in a governing alliance with the NUM-affiliated national union confederation COSATU, and a perception has filtered down the shafts that the rank and file are not getting a fair deal because NUM is in bed with companies and the ANC.

This has been a common refrain among several AMCU workers Reuters has interviewed in recent weeks, from Lydenburg to the main platinum belt where police on Thursday opened fire on striking workers employed by Lonmin at its Marikana operations northwest of Johannesburg.

"The NUM, they have shares in the companies," said Fannie Bhengu, an AMCU branch chairman in Lydenburg.

Past NUM leaders who are ANC heavyweights include Cyril Ramaphosa, a business tycoon who sits on Lonmin's board. In his labour days, he led a strike 25 years ago that saw 11 mineworkers gunned down by police.

The NUM denied it had shares in mining companies, or that it had too cosy a relationship with the management of those companies.

AMCU and other upstart unions have however been drilling into a growing seam of discontent and poaching NUM members or picking up the unorganised at Lonmin, Aquarius and at the world's largest platinum mine run by Impala Platinum, which shut for 6 weeks early this year amid labour blood-letting.

The groundswell of revolt against the NUM is tapping into the same popular anger with poor government delivery of services that is confronting the ANC, marked by frequent riots in poor townships and squatter camps."

Poor and angry workers living in squatter conditions certainly have nothing to lose. That is the cause of the revolt as big companies have ignore the welfare of the society. They don't care because more riots and strikes would spell disaster for Lonmin.

Lonmin says sacking striking miners could lead to more violence

(Reuters) - Lonmin, the world's third-largest platinum producer, on Tuesday conceded that sacking 3,000 striking workers at its Marikana mine near Johannesburg, South Africa, could lead to more violence.

Profit will be severely affected this year at Lonmin....


Fewer than 7 percent of Lonmin's 28,000-strong South African workforce reported for duty on Thursday as the platinum producer held talks with warring unions, attempting to cool tensions and bring people back to work.

The world's third-largest platinum producer has been forced to shut its mining operations for almost three weeks because of a violent turf war between the established National Union of Mineworkers (NUM) and militant Association of Mineworkers and Construction Union (AMCU), which led to the deaths of 44 people this month.

That total includes 34 striking workers killed in a hail of police bullets, an event that has stiffened the resolve of surviving comrades to hold out until their demands are met.

"We have a 6.6 percent average attendance across all shafts this morning," Lonmin said in a statement.

Lonmin said only eight percent of its 28,000 workers reported for duty on Tuesday.

"We have an eight percent average attendance across all shafts this morning.The workers have vowed not to return to their jobs unless their R12,500 salary demand is met. "We will betray our comrades who died fighting for this R12,500 if we accept anything less than it," said one worker, Abram Pitso.

540p now... keep on shorting.