Lonmin shares jump 15% – turns cash positive on cost cuts, rising platinum price
Platinum miner Lonmin said it was cash-positive in the first half of the year as it implements a cost-cutting plan to save the business.
Ben Magara
Malema, Maimane transform Marikana Memorial into anti-Zuma political rally
A highly-politicised three-year commemoration of the Marikana killings saw politicians jostling to promote their affiliations in Rustenburg on Sunday.
More job losses in platinum as Lonmin peers in crystal ballÂ
Lonmin Plc scaled back spending plans to weather a platinum price slump that may last two more years.
Lonmin opens talks to cut another 3 500 jobs
Platinum producer Lonmin is in talks with unions and employees to cut 3,500 jobs at its mines in South Africa.
Platinum fundamentals swing positive – price poised for rebound
Production of the shiny metal, used for jewelry and in catalytic converters in cars, will fall short of consumption this year by about 500,000 ounces, according to a January estimate by Credit Suisse Group AG.
Ben Magara: Investors need clarity about where we’re going as a country
Alec Hogg interviewed Lonmin CEO, Ben Magara at the Mining Indaba in Cape Town about investor confidence, the mood on the ground and what the mining industry needs in SA.
Lonmin comments on Glencore’s announced proposal
Following an announcement by Glencore seeking shareholder approval for the divestment of its shareholding in Lonmin, Lonmin’s Board has responded.
Ed Stoddard: SA’s big platinum strike holds lessons and omens for gold
South Africa’s gold producers are gearing up for a showdown with labour that could hasten the decline of a struggling industry.
Lonmin sees no let-up for belt tightening
Lonmin, the world’s third-largest platinum producer, said on Tuesday persistently weak prices meant it will be cutting costs further and increasing productivity, although job cuts remained a last resort.
Davos Diary Day 4: Deadlines, unsung heroes and an unimpressive Swede
The dwindling energy at the World Economic Forum is tangible, from the grumpy faces of security staff to participants, yet Alec seems to be on form, and still has his finger firmly on the pulse.