Lonmin to sell excess processing capacity, implement other measures to ensure sustainability

Despite “pleasing” third-quarter production results, which showed an improved mining performance, reduced unit costs and increased net cash in July, platinum mining major Lonmin remains concerned by the persistent adverse macroeconomic conditions, as well as the inflationary cost pressures confronting the platinum mining industry. The company, which is headed up by CEO and COO Ben Magara, will, therefore, implement further measures to ensure that its operations generate sufficient cash to support a sustainable business, it noted in a statement on Monday.