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LON
LOLMI
Lonmin - Full Year Production Report
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")
Full Year Production Report
25 October 2006
Lonmin today announces its production report for the twelve months to 30
September 2006 (unaudited).
Brad Mills, Chief Executive Officer said:
"Our mining operations had a record year producing 1,017,137 Platinum ounces
in concentrate ahead of our 1 million ounce target. Marikana continued to
ramp up underground production with underground tonnes mined up 8.1% on last
year. As planned we continued to scale back our opencast operations with
Marikana"s opencast tonnes mined down 23.4%. Limpopo delivered 50,404
Platinum ounces in concentrate for the year in line with our forecasts. In
the last quarter of the year we achieved stable Smelter operations and the
Process Division recovered quickly from September"s fire in the Precious
Metal Refinery. We recorded total sales for the year of 952,682 ounces of
Platinum and 1,817,624 ounces of total Platinum Group Metals up 4.4% and
7.4% respectively on last year. During the year we sold approximately 20%
of our full year"s PGM sales as concentrate due to our Smelter rebuild
programme and other processing outage issues. These sales carry a lower
margin than refined metal sales. Cost pressures increased in the second
half and we now believe that full year Marikana C1 costs of own production
net of by-product credits will be around R2,400 to R2,450 per PGM ounce
sold."
Mining
12 months 12 months to
to 30 30 September
September
2006 2005
Tonnes Marikana Underground 000 11,942 11,047
mined
Opencast 000 2,032 2,653
Total 000 13,974 13,700
Limpopo Underground 000 858 212
Opencast 000 14 0
Total 000 872 212
Lonmin Underground 000 12,800 11,259
Platinum
Opencast 000 2,046 2,653
Total 000 14,846 13,912
Tonnes Marikana Underground 000 11,959 11,102
milled*
Opencast 000 2,308 2,444
Total 000 14,267 13,546
Limpopo Underground 000 887 214
Opencast 000 14 0
Total 000 901 214
Lonmin Underground 000 12,846 11,316
Platinum
Opencast 000 2,322 2,444
Total 000 15,168 13,760
*Excluding slag
12 months 12 months to
to 30 30 September
September
2006 2005
Metals in Marikana Platinum oz 966,733 930,373
concentrate
Palladium oz 433,699 402,748
Rhodium oz 137,220 129,872
Total oz 1,861,179 1,766,908
PGMs
Limpopo Platinum oz 50,404 11,567
Palladium oz 38,170 9,217
Rhodium oz 7,845 1,305
Total oz 113,364 25,672
PGMs
Lonmin Platinum oz 1,017,137 941,940
Platinum
Palladium oz 471,869 411,965
Rhodium oz 145,065 131,177
Total oz 1,974,543 1,792,580
PGMs
Metals in concentrate are contained ounces in concentrate produced during
the period by the mining operations.
Metallurgy
12 months 12 months to
to 30 30 September
September
2006 2005
Production Marikana Platinum oz 739,277 830,911
refined
Palladium oz 323,275 360,753
Rhodium oz 87,674 93,445
Total oz 1,352,037 1,510,553
PGMs
Marikana Platinum oz 158,114 73,985
Concentrate
and other
Palladium oz 77,630 38,346
Rhodium oz 37,855 24,491
Total oz 341,643 167,956
PGMs
Limpopo Platinum oz 50,404 11,524
concentrate
Palladium oz 38,170 9,043
Rhodium oz 7,845 1,320
Total oz 113,364 25,741
PGMs
Lonmin Platinum oz 947,795 916,420
Platinum
Palladium oz 439,075 408,142
Rhodium oz 133,374 119,256
Total oz 1,807,044 1,704,250
PGMs
Lonmin Group Metal Sales
12 months 12 months to
to 30 30 September
September
2006 2005
Sales Lonmin Platinum oz 952,682 912,844
Platinum
Palladium oz 442,630 402,425
Rhodium oz 135,449 117,944
Total oz 1,817,624 1,692,517
PGMs
12 months 12 months to
to 30 30 September
September
2006 2005
Prices Average Platinum R/oz 7,283 5,366
$/oz 1,084 856
Palladium R/oz 1,999 1,184
$/oz 299 189
Rhodium R/oz 26,106 10,494
$/oz 3,897 1,661
Basket price of PGMs $/kg 30,916 19,979
& base metals
Exchange Average rate for $/GBP 1.81 1.85
Rates period
R/$ 6.63 6.28
Closing $/GBP 1.87 1.75
rate
R/$ 7.77 6.36
Lonmin"s Final Results will be announced on 15 November 2006 and first
quarter production report on 25 January 2007.
Enquiries:
Alex Shorland-Ball +44 (0) 20 7201 6060
Vice President, Investor Relations & Communications
Date: 25/10/2006 08:00:17 AM Produced by the JSE SENS Department
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