24 May, 2010
Lonmin Plc (“Lonmin”) announces that it has suffered a setback during the recommissioning process of its Number One furnace in the form of a leak around a slag tap hole. The incident happened as the furnace was still being stabilised following its restart on 12th May.
Our initial estimate is that commissioning will now take another 25-30 days, during which time the three Pyromet furnaces will continue to operate. Together these furnaces have around 40% of the capacity of the Number One furnace. In addition, the risk mitigation plans announced at the interims which include replacing the waffle coolers with refractory bricks and plate coolers are in hand.
In order to maintain our sales guidance of 700,000 ounces of Platinum for 2010, we will need to increase the volume of toll refining over and above our current contractual commitments.
ENQUIRIES:
Investors / Analysts:
Tanya Chikanza
+44 (0) 207 201 6007
Acting Head of Investor Relations
Media:
Cardew Group
+44 (0) 207 930 0777
Rupert Pittman / James Milton
Financial Dynamics
+27 (0) 21 487 9000
Dani Cohen / Ravin Maharaj
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