LON - Lonmin Plc - Number One Furnace Shut Down Update
LON
LOLMI
LON - Lonmin Plc - Number One Furnace Shut Down Update
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")
Number One Furnace Shut Down Update
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.
END
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
Date: 24/05/2010 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
