|Bid||75.00 x 444900|
|Ask||90.00 x 140500|
|Day's range||82.88 - 86.00|
|52-week range||61.50 - 230.25|
|PE ratio (TTM)||-0.46|
|Dividend & yield||N/A (N/A)|
|1y target est||N/A|
LONDON, Oct (Shenzhen: 000069.SZ - news) 6 (Reuters) - Lonmin (LSE: LMI.L - news) 's lenders have waived some of its debt covenants, allowing the platinum miner to buy the rest of its Pandora (LSE: 0NQC.L - news) joint venture mine, the South African-focused producer said on Friday. London-listed shares in Lonmin jumped 11 percent to a near four-week high of 82 pence. The miner, which is also listed in Johannesburg, is battling low platinum prices and operational issues which have forced it to sell assets and restructure its business.
Platinum miner Lonmin Plc 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 ...
South Africa's Association of Mineworkers and Construction Union (AMCU) said on Saturday (Shenzhen: 002291.SZ - news) another member of its leadership had been shot dead, execution-style, this time at a Lonmin (LSE: LMI.L - news) owned-mine on the platinum belt in the west of the country. A senior official of the union was shot and killed outside an Impala Platinum (Other OTC: IMPUF - news) (Implats) mine two weeks ago, and the union said five of its members had been killed since July. AMCU president Joseph Mathunjwa said Mvelesi Biyela, a health and safety officer at Lonmin's Wonderkop mine near Marikana in Rustenburg, was shot on Friday evening in front of his wife and six-year-old daughter while they were on their way home.
The South African mines ministry has told platinum miner Lonmin (LSE: LMI.L - news) that it failed to meet some of its social and labour obligations, the producer said on Tuesday, but added it did not think its operating licence was in jeopardy. The London-listed miner received a letter last week from South Africa's Department of Mineral Resources detailing the areas that the miner had neglected, company spokeswoman Wendy Tlou said. Mining companies in South Africa are supposed to comply with a number of social and labour regulations, including providing proper housing, to help a mostly black labour force that was exploited and ill-treated under apartheid.
A senior union official was shot dead outside an Impala Platinum (Other OTC: IMPUF - news) (Implats) mine on Tuesday in South Africa's Rustenburg area, the focus of a surge of violence that has unnerved investors. The branch treasurer with the powerful Association of Mineworkers and Construction Union (AMCU) was "gunned down in cold blood" as he left the mine, 100 km (60 miles) west of Johannesburg, to get food, his organisation said in a statement. Labour and social strife in South Africa's platinum belt, the source of more than 70 percent of known reserves of the precious metal, has piled pressure on an industry already hit by depressed prices.
Platinum miner Lonmin Plc (LSE: LMI.L - news) said on Monday it would cut costs and sell some assets, including processing capacity of up to 500,000 ounces per year, as it battles to overcome a weak market and to preserve jobs. Shares in the South African miner rose 1.7 percent by 1020 GMT in response to Monday's announcement, although some analysts said it would be important to see what terms Lonmin is able to agree with potential buyers. Platinum miners in South Africa face an array of obstacles, including very deep, narrow seams, political instability and a stubbornly low platinum price of around $950 an ounce.
Platinum miner Lonmin (Berlin: 30318982.BE - news) cut more costs and improved its mining performance in its third quarter, it said on Monday, but falling metal prices continued to weigh. Shares (Berlin: DI6.BE - news) in the South Africa-focused company were up 7 percent in London by 0920 GMT, outpacing the wider sector. Lonmin (LSE: LMI.L - news) has been struggling with shrinking profit margins due to high costs, operational issues and stubbornly low platinum prices.
Platinum producer Lonmin re-opened two of its shafts in South Africa on May 20 after community protests stopped, a spokeswoman said on Wednesday. The E2 and E3 shafts, which were temporarily closed after ...
Policy uncertainty in South Africa and low commodity prices are hurting investment in the mining sector and will lead to further job cuts, the chief executive of the world's biggest platinum miner, Anglo American (LSE: AAL.L - news) Platinum (Amplats), said on Tuesday. "Uncertainty is dreadful for investment," Chris Griffith told Reuters on the sidelines of Platinum Week in London. "It puts pressure on jobs and some mines that are already loss-making... there will be further rationalisation of the mines and its going to lead to further job losses in South Africa," he said.
A drop in production and higher costs forced South Africa-focused platinum producer Lonmin (Berlin: 30318982.BE - news) to make deeper cuts and shift its headquarters on Monday as a first-half operating loss of $181 million knocked its shares. Lonmin (LSE: LMI.L - news) took a write-down of $146 million due to the stronger rand against the dollar as miners in South Africa pay costs in the local currency and earn revenue in dollars. This also reduced Lonmin's liquidity by 6 percent compared with the previous year to $447 million, troubling some analysts.
Platinum producer Lonmin will move its head offices from Johannesburg to its Marikana operations in South Africa in a move that will save it "tens of millions" of rand, Chief Executive Ben Magara ...
South Africa-focused platinum producer Lonmin on Monday reported a first-half operating loss of $181 million hit by higher costs and lower production. It reported a headline loss of $39 million versus ...
JOHANNESBURG/LONDON May 11 (Reuters) - Platinum producer Lonmin said on Thursday community protesters demanding 1,000 jobs were disrupting output, damaging property and intimidating employees around its Marikana and other operations in South Africa. The Lonmin ructions are the latest flare-up on South Africa's restless platinum belt between impoverished communities seeking a bigger slice of the mineral pie and companies grappling with depressed prices and rising costs.
Protesters demanding better housing clashed with police in Johannesburg townships for the fourth straight day on Thursday, racheting up pressure on South African President Jacob Zuma's government to deliver social services. Some schools and businesses were closed due to the protests. "What does a protest for housing got to do with people closing down shops and looting shops?
Platinum producer Lonmin said on Thursday it had stopped production at two shafts in the town of Marikana, South Africa, adding that some 40 million rand of production had been lost due to community protests. ...
Platinum producer Lonmin said on Thursday that community protesters demanding 1,000 jobs were committing acts of violence, damaging property and intimidating employees around its Marikana operations in ...
Troubled platinum miner Lonmin (Berlin: 30318982.BE - news) said on Monday its chief operating officer (COO) has resigned for personal reasons. After more than two years in the role of COO and director, Ben Moolman will step down on April 5, Lonmin (LSE: LMI.L - news) said, without naming a successor. Lonmin also said initiatives to improve production were taking longer than planned.
Lonmin reported weaker than expected output on Thursday, causing analysts to raise doubts over 2017 production targets, and faced demands for compensation following the shooting of 34 miners at Marikana in South Africa's platinum belt. The production shortfall added to steep losses for Lonmin's volatile share price. Platinum prices, which rose just one percent last year, have failed to join a rally in other commodities and Lonmin has lagged the wider recovery in the mining sector that started last year.
The chances of South African President Jacob Zuma's ex-wife, Nkosazana Dlamini-Zuma, becoming the next leader of the African National Congress were given a boost on Saturday (Shenzhen: 002291.SZ - news) with the endorsement of the ruling party's women's division. The ANC will pick a new leader at a conference in December and, given its national dominance since coming to power at the end of apartheid in 1994, the winner is likely to go on to be South Africa's next president when elections are held in 2019.
JOHANNESBURG, Dec (Shanghai: 600875.SS - news) 12 (Reuters) - South Africa-focused platinum miner Lonmin is confident of submitting a plan to build workers' housing that meets government requirements, it said on Monday, after President Jacob Zuma threatened to revoke its mining permit if it failed to do so. Zuma's warning on Sunday piles pressure on the company to spend more on workers' housing at a time when it is cutting costs after being saved from the brink of collapse last year by a deeply discounted $400 million equity cash call. To secure a mining licence, mining companies must submit a plan for housing and living conditions for their workers, many of whom come from former "homelands", far from the mines, where blacks were forced to live in South Africa's racist past.