Lonmin announced that it earned an operating profit of $34m for the six months ended March 2014, down significantly from the $93m it earned in the same period last year, but much, much higher than any reasonable person would have expected. The period in question included both the traditionally quiet December/January period and the months-long … Read more
By Silvia Antonioli LONDON (Reuters) – Platinum miner Lonmin said on Monday restructuring and job cuts were inevitable as it posted a steep fall in six-month earnings, suffering fromSouth Africa’s longest and most costly labour stoppage. The pay dispute in the world’s top platinum producing country has cut 40 percent of global production and halted operations at Lonmin’s … Read more
HARARE (Reuters) – Zimbabwe is considering a proposal for the construction of a platinum refinery from the world No. 2 producer of the precious metal Impala Platinum, the mines minister said on Thursday. President Robert Mugabe’s government has given platinum companies operating in Zimbabwe a deadline of two years to set up a refinery to add value to its mineral exports … Read more