|
LON
LOLMI
LON - Lonmin Plc - Update on Number One Furnace
Lonmin Plc (Incorporated in England and Wales)
(Registered in the Republic of South Africa under registration number
1969/000015/10)
JSE code: LON
Issuer Code: LOLMI & ISIN: GB0031192486 ("Lonmin")
24 June 2009
Lonmin Plc
Update on Number One Furnace
Lonmin Plc ("Lonmin" or "the Company") today provides an update on the matte
run-out incident at the Number One furnace, announced on Monday 15 June.
An inspection of the Number One furnace has established that the source of
the matte run-out was a water leak in one of the lower copper cooling waffle
units above one of the matte tappe blocks. This unit is being replaced and a
full investigation into the cause of the leak is underway.
Matte is expected to be tapped again at the Number One furnace within the
previously estimated 30 days, during which time the vessel will be fully
repaired, monitored and tested. Our initial total cost estimate for the
repair of the furnace and the extra costs of running our Pyromet furnaces is
around US$4 million. The Pyromet furnaces tapped matte on 21 June 2009 and
will remain in operation until September 2009.
As a result of utilising our additional smelting capacity, we expect to
process the majority of the concentrate inventory built up ahead of the
Smelter during the Number One furnace shutdown before the end of the 2009
financial year. However, the shutdown will impact our ability to fully refine
the remainder of this built up metal in process during that period.
As a consequence of the shutdown, it is estimated that at 30 September 2009
there could be an increase in metal in process of up to 20,000 ounces of
Platinum.
- Ends -
ENQUIRIES:
Investors / Analysts:
Rob Gurner + 44 (0) 207 201 6050
Head of Investor Relations
Media:
Cardew Group + 44 (0) 207 930 0777
Anthony Cardew / Rupert Pittman
Financial Dynamics + 27 (0) 21 487 9000
Dani Cohen / Ravin Maharaj
Date: 24/06/2009 08:00:03 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
