Lonmin Plc - Statement On Platinum Production Targ
Mineral Rights And Date Of Announcement Of Interim Results
LONMIN PLC
GB0031192486
28 MARCH 2003
STATEMENT ON PLATINUM PRODUCTION TARGET, SALE OF SURFACE AND MINERAL RIGHTS AND
DATE OF ANNOUNCEMENT OF INTERIM RESULTS
At pre-closed period meetings in Johannesburg today and in London on 31st March,
Lonmin"s Chief Executive Edward Haslam will inform industry analysts that
recovery from the smelter incident has been better than expected and that the
Company will exceed the half year platinum production target announced shortly
after the smelter incident.
Mr Haslam will also say that Lonmin has concerns with the South African
Government"s recent proposal to levy a 4% royalty charge on turnover and that he
looked forward to a constructive dialogue with the Authorities during the
proposed consultation period.
Lonmin Plc will also announce the sale to Salplats (Pty) Limited of its surface
and mineral rights to the Brakspruit 299 JQ Farm for a cash consideration of
R205 million. Lonmin has reserved the right to mine for its own account the
opencast reef at Brakspruit to a depth of 40 metres below the surface.
Lonmin Plc will announce interim results for the half-year ended 31st March 2003
on the 29th May 2003.
Enquiries:
John Robinson - Lonmin Plc +27 11 516 1314
Anthony Cardew/Jackie Range - CardewChancery +44 207 930 0777
END
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