Lonmin

Source: www.proactiveinvestors.co.uk --- 4 days ago
Gold fell sharply today as the US dollar gained against other major currencies on fears of further tightening of monetary policy in China after the country’s consumer price index increased to an annualised rate of 2.7% in February to signal higher inflation, which, however, was still within the government’s 3% target for 2010. Back in January, China moved to implement a series of measures to curb credit growth after it reached record levels in the first weeks of the year, pushing lending down to 700 billion yuan in February compared to 1.39 trillion yuan in the previous month. The American currency is seen as a safe haven asset, while gold is considered to be a riskier alternative and usually moves inversely to the US dollar. The euro performed well last week after debt laden Greece introduced a new round of economic austerity measures and conducted a successful €5 billion bond issue to meet its near term commitments to ease concerns over its ability to avoid a default. This week, however, Europe’s single currency fell under pressure after Fitch threatened to cut Portugal’s rating from the current AA if the ongoing fiscal consolidation continues at a slow pace and proves insufficient. The euro edged higher later in the week after Portugal raised US$1.35 billion via a bond issue to prop up precious metals, though it fell back today ahead of the Swiss National Bank’s interest rate decision, which will be released at 13:30 GMT. Gold st ...

Source: www.proactiveinvestors.co.uk --- 7 days ago
Gold made further advances this morning, stopping just short of US$1,140/oz after the non-farm payrolls update that came out in the US on Friday turned out to be better than expected, showing just 36,000 jobs lost instead of a projected decline of up to 70,000, while consumer borrowing data showed the first increase in a year today to drive up equity markets and further boost investors’ appetite for riskier assets such as gold. The bullish economic updates pushed down the US dollar , which is considered a safe haven asset. Gold is seen as an alternative investment and usually moves inversely to the American currency. Meanwhile, the euro extended gains after rising for most of the previous week as the outlook for Greece’s debt crisis improved after the unveiling of a fresh economic austerity package and a successful bond issue that raised the debt laden country €5 billion to help it meet its near term commitments. Later in the day the US dollar recovered, pushing gold down as it continued trading within a narrow range around US$1,135/oz. Other precious metals followed with silver climbing to US$17.48/oz and platinum hitting seven week highs at US$1,605/oz. Major mining companies were mixed today. Platinum miner Lonmin (LSE: LMI) led the sector in the FTSE 100 with a gain of nearly 1%. Randgold Resources (LSE: RRS) was flat, while silver and gold producer Fresnillo (LSE: FRES) rose marginally. Specialty chemicals firm Johnson Matthey ...

Source: www.platinum.matthey.com --- 9 days ago
Lonmin has agreed two separate deals allowing it to build chrome recovery plants at its Marikana operation, it was confirmed today (2nd March). The world's third-largest platinum producer will use the new facilities at the South African site to treat tailings from the concentrators at the UG2 reef. In addition, the company confirmed that it is exploring the possibility of building plants to recover pgms after the initial process of removing the chrome. "These agreements mark the continuation of a trend across the industry as pgm producers look to realise value through chrome by-product revenues and improved pgm recoveries," said Chief Executive Ian Farmer. The contracts, which have been agreed with the Xstrata-Merafe Chrome Venture and ChromTech, will see the plants come into full production in the second half of Lonmin's 2011 fiscal year. Meanwhile, Mr Farmer also told Dow Jones this week that South Africa's ongoing struggles to provide sufficient electricity will represent a major challenge for pgm producers this year. Source: UPDATE 1-Lonmin to build chrome recovery plants (02/03/10) © Adfero Ltd   ...

Source: www.platinum.matthey.com --- 9 days ago
Lonmin is hoping to increase its platinum sales by about 14 per cent in the next three years, it emerged on Monday (1st March). The world's third-largest producer of the precious metal is expecting sales of 700,000 oz this year, but is planning to push that total up to 800,000 oz by 2013, Dow Jones reports. Chief Executive Ian Farmer revealed the company is exploring the possibility of increasing its smelter capacity in order to cope with the gradual advance in output. Meanwhile, at an industry conference in Hollywood, Florida, Mr Farmer expressed his concerns about the impact of the ongoing electricity supply struggles in South Africa. "I think the availability of power will be a factor to take into account when assessing the [platinum group metal] industry's ability to grow," he said, according to the news provider. Lonmin is 25 per cent-owned by diversified Swiss miner Xstrata, which has already seen one hostile takeover attempt fall through but is rumoured to be lining up a further bid. Source: Lonmin CEO: Industry Growth May Be Limited By Lack Of Power (01/03/10) © Adfero Ltd   ...

Source: www.proactiveinvestors.co.uk --- 11 days ago
Gold returned to yesterday’s levels after falling earlier in the day and briefly recaptured the US$1,140/oz mark as the US Dollar Index , which measures the greenback’s strength against a basket of six other major currencies, weakened as the outlook for Greece’s debt crisis improved, strengthening the euro. The debt-laden country that owes some €300 billion is set to launch a bond offering to raise €5 billion just a day after announcing a new round of economic austerity measures to trim budget by €6.5 billion to comply with the European Union’s target of a 4% reduction in budget deficit for 2010. Both the Bank of England (BoE) and the European Central Bank (ECB) expectedly left their interest rates unchanged today at 0.5% and 1% respectively, which had little impact on currency markets. Further improvements in the EUR/USD rates hinge on the results of today’s bonds issue. The yellow metal usually moves inversely to the US dollar, being seen as an alternative investment to the American currency. Other precious metals also advanced with silver and platinum reaching US$17.29/oz and US$1,579/oz respectively. Most miners were in decline today. Silver producer Fresnillo (LSE: FRES) was at the bottom of the pile with a 1.6% loss. Platinum miner Lonmin (LSE: LMI) and gold producer Randgold Resources (LSE: RRS) declined marginally. Specialty chemicals firm Johnson Matthey (LSE: JMAT) was flat. Midcaps followed the trend as Aquarius Platinum ...

Source: www.mineweb.com --- 13 days ago
The world's third-largest platinum producer says the plants will enable it to gain chrome by-product revenue ...

Source: www.proactiveinvestors.co.uk --- 14 days ago
In the FTSE 100, miner Fresnillo (LSE: FRES) reported record attributable silver production of 37.9 Moz (million ounces) for the full year, which marked a 9% year on year improvement. Attributable gold production was 5% higher at 276,584 oz. Revenues climbed 18% to US$850 million. Platinum producer Lonmin (LSE: LMI) has signed two separate contracts with the Xstrata-Merafe Chrome Venture and ChromTech for the construction of chrome recovery plants to treat the current tailings from UG2 concentrators at Lonmin’s Marikana operations. Car insurer Admiral Group (LSE: ADM) reported a record full year profit of £218.8 million, marking a 7% year on year improvement, while revenues were 18% higher at £1.08 billion. In AIM, Philippines operating nickel miner Rusina Mining (ASX: RML; AIM: RMLA) and laterite nickel specialist European Nickel (AIM: ENK) said that the due diligence contained in their merger implementation agreement have been satisfied and the scheme of arrangement transaction was no longer subject to those conditions. Zinc explorer Connemara Mining (AIM: CON) said that hole 36 in Limerick intersected 5.35 metres at 13.2% zinc and 3.2% lead from 202.7 meters depth. Turkey and Ethiopia operating gold miner Stratex International (AIM: STI) said that the in-house resource estimate determined by Stratex for the first zone to be drilled within the Öksüt project, the Ortacam Zone, totalled 147,814 oz of oxide gold ('Au') at a cut-off g ...

Source: www.financial24.org --- 14 days ago
The following is a list of companieswhose shares may have unusual price changes in U.K. and Irishmarkets today. Stock symbols are in parentheses and prices arefrom the last market close. The benchmark FTSE 100 Index climbed 51.42, or 1 percent,to 5, Admiral Lonmin Prudential RBS UK Irish Equity Preview ...

Source: www.investegate.co.uk --- 14 days ago
12:35 PM: (LMI) Total Voting Rights ...

Source: www.investegate.co.uk --- 27 days ago
3:50 PM: (LMI) Director/PDMR Shareholding ...

Source: www.proactiveinvestors.co.uk --- 40 days ago
Gold prices corrected today after nearly reaching US$1,125/oz on a weaker US Dollar, which declined against a basket of six currencies following the recent flurry of positive economic data that came out in the US, showing higher manufacturing activity, increases in personal income and spending and higher existing home sales. The data provided further signs of recovery for investors, turning their attention away from the greenback to riskier assets. Gold later retreated later in the day as the US Dollar firmed after the ADP National Employment Report said that non-farm payrolls declined by 22,000 in January. Non-farm employment data from the Labor Department is due out on Friday. The yellow metal stood at US$1,111/oz in mid afternoon, while other precious metals also corrected with silver and platinum dropping to US$16.49/oz and US$1,568/oz respectively. Most mining stocks declined. Platinum producer Lonmin (LSE: LMI) was at the bottom of the pile with a 2% loss, while silver and gold miner Fresnillo (LSE: FRES) dropped 1% and gold miner Randgold Resources (LSE: RRS) was flat. Specialty chemicals firm Johnson Matthey (LSE: JMAT) posted an insignificant loss. Midcaps were mixed as while gold miner Petropavlovsk (LSE: POG) and silver producer Hochschild Mining (LSE: HOC) posted small gains, Aquarius Platinum (LSE: AQP) lost 1%. Commodity asset development company Mercator Gold (AIM: MCR) moved with the majors, sliding 5%. Africa operati ...