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Platinum miner Lonmin forecasts full-year sales above expectations

Reuters - UK Focus

Oct (Shenzhen: 000069.SZ - news) 6 (Reuters) - Platinum miner Lonmin Plc (LSE: LMI.L - news) said on Friday it expects full-year sales to be slightly above its prior forecast.

The company which is in the process of cutting costs and selling some assets, said it is exploring several initiatives and is currently progressing early stage discussions with a variety of parties.

Lonmin also said it had received consent from its lending banks for its acquisition of interests of Anglo American (LSE: AAL.L - news) Platinum and Northam Platinum (Other OTC: NMPNY - news) in the Pandora JV and expects to complete the deal before the announcement of its full-year results in November. (Reporting by Radhika Rukmangadhan in Bengaluru; editing by Alexander Smith)