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Operational and Financial highlights - 2013
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Related Links
2015 Notice of Annual General Meeting
2014 Interim Report
2014 Notice of AGM
2014 Annual Report & Accounts
2014 Sustainable Development Report
2013 Annual Report & Accounts
2013 Sustainable Development Report
2013 Interim Report
 

Investor enquiries, please contact:

Tanya Chikanza
+44 (0)20 7201 6007 / +2711 218 8358
tanya.chikanza@lonmin.com



2013 Features

Lost Time Injury Frequency Rate (LTIFR) of 3.50, a 15.9% improvement on previous year, but sadly 3 fatalities

Production ramp up achieved well ahead of Renewal Plan

Highest Marikana underground tonnes hoisted in 6 years (11 million)

751,000 Platinum ounces in concentrate achieved, highest in 6 years and an 10.5% increase on last year

Platinum sales of 696,000 ounces, exceeding guidance of 660,000 ounces; pipeline rebuilt

Immediately available ore reserves at 3.8 million centares, up 14.7%

Concentrator recoveries at record level at 87.0%

Rights Issue of December 2012, raised net proceeds of $767 million

Underlying profit before tax of $158 million ($57 million in 2012)

Net cash of $201 million (net debt of $421 million in 2012)

Cost of production per PGM ounce increase contained to 3.8% - exceeding guidance and lower than South African inflation

Capital expenditure of $159 million (below guidance of $175 million - in line with guidance in Rand terms)

Underlying Earnings per Share of 20.5 cents versus 3.9 cents in prior year (restated for impact of Rights Issue)

 

2014 Priorities

Building a safe and sustainable business
We aim to be the safest primary PGM producer and to minimise our adverse environmental impact – our aim is to cause zero harm to people – by integrating our operational and sustainability strategies.

Protecting the short-term value of the Marikana assets
We have significant amounts of shareholders' capital tied up in the existing asset base, and mining is generally highly capital intensive. Our expectation is that PGM markets will remain lacklustre in the short-term, but we believe that there will be significant value potential over the longer term. We therefore aim to remain frugal with our cash and optimise limited capital investment in the immediate future but without compromising the potential of the business to reach higher levels of production when market circumstances improve. Our K4 shaft is currently on care and maintenance, but is a crucial asset for when we wish to replace or increase production.

Continuing focus on productivity and cost management
We will maintain a rigorous focus on cost control, in relation to both gross costs and costs per PGM ounce produced. Gross costs are tightly controlled through centralised procurement and unit costs are managed by developing a clear understanding of normal levels of usage relative to production, all of which is supported by strong management information systems and a robust internal control environment to ensure that all costs are properly incurred before payment is made.

>> click here to read more <<

 

Latest news

17 March, 2015
  1. Management Update
10 March, 2015
  1. Operational Update
24 February, 2015
  1. Management Changes
23 February, 2015
  1. Directorate Change
11 February, 2015
  1. Regulatory Announcement - Lonmin comments on Glencore's announced proposal
04 February, 2015
  1. 2-4 February 2015 - Analysts' & Investors' Mine Visit Video
29 January, 2015
  1. Annual General Meeting Voting Results
29 January, 2015
  1. Directorate Change
29 January, 2015
  1. First Quarter 2015 Production Report
04 December, 2014
  1. Lonmin Issuance of Shares and Total Voting Rights Update
26 November, 2014
  1. Lonmin completes its remaining 8% BEE credits
10 November, 2014
  1. 2014 Final Results Announcement
10 November, 2014
  1. Q4 2014 Production Report
29 October, 2014
  1. Lonmin Achieves One Year Fatality-Free
16 October, 2014
  1. Lonmin Dismisses AIDC Allegations
08 October, 2014
  1. Lonmin successfully ramps up to full production in 2 months
25 September, 2014
  1. Lonmin dismisses allegations
22 September, 2014
  1. Lonmin dismisses allegations by AIDC and Mail and Guardian
18 September, 2014
  1. Related Party Transaction
11 September, 2014
  1. Result of General Meeting
26 August, 2014
  1. Statement on Press Speculation
04 August, 2014
  1. Senior Management Team Changes
30 July, 2014
  1. Acquisition and Proposed Issue of Equity
25 July, 2014
  1. Q3 2014 Production Report & IMS
22 July, 2014
  1. Directorate Change
24 June, 2014
  1. Lonmin Signs Multi-year Wage Agreement with AMCU
23 June, 2014
  1. Wage Negotiations Update
18 June, 2014
  1. Wage Negotiations Update
12 June, 2014
  1. Update on Wage Negotiations
09 June, 2014
  1. Inter-Governmental Technical Task Team Dissolved
30 May, 2014
  1. Lonmin Dismisses Allegations
12 May, 2014
  1. 2014 Interim Results Announcement
12 May, 2014
  1. Q2 2014 Production Report
06 May, 2014
  1. Update on Protected Strike Action
02 May, 2014
  1. Lonmin Takes Settlement Offer Directly to Employees
24 April, 2014
  1. Update on Protected Strike Action

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