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%

StockMarketWire.com
Mining firm Lonmin (LMI) announced improved revenue on higher platinum group metal prices for the year to 30 September 2017 but a significant pre-tax loss of $1.17bn after a change in its business plan led to a $1.05bn impairment.

In an update on its first quarter to 31 December 2017, reported net cash of $63m reflected a reduction in the historical first quarter cash burn rate and the company revealed a fatality-free operating period.

The company is in the process of merging with Sibanye-Stillwater. Lonmin chief executive Ben Magara says: 'We believe Lonmin has an enviable mine-to-market business with great mining assets, projects and process technology and a resilient workforce.

'Despite this, Lonmin continues to be hamstrung by its capital structure and liquidity constraints. The announced combination with Sibanye-Stillwater will provide a stronger platform for Lonmin's shareholders and allow them and our other stakeholders to benefit from the long-term upside potential of an enlarged and geographically diversified precious metals group.'