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LON
LOLMI
LON - Lonmin - Q1 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")
Q1 Production Report
Lonmin today announces its production report for the quarter to 31 December 2006
(unaudited).
Brad Mills, Chief Executive Officer said:
"Our Marikana underground mining operations continue to perform well with tonnes
mined in line with our expectations and flat versus Q1 2006 after stripping out
the effect of the additional week in the prior year period. Limpopo operations
focussed on development during the period as part of our programme to ramp up
production in the second half of the year. The Pandora JV started contributing
significantly to production during the period. We continue to be on track to
deliver between 1.02 and 1.04 million saleable ounces of Platinum in concentrate
from our mining operations this financial year. Total refined PGM production
increased 10.9% year on year. Refined PGM sales were flat on 2006 as a result of
customer delivery schedules. Our sales forecast for the year remains around
980,000 to 1 million ounces of Platinum."
Mining
3 months 3 months
to 31 to 31
December December
2006 20051
Tonnes mined Marikana Underground 000 2,754 3,020
Opencast 000 384 556
Total 000 3,138 3,576
Limpopo Underground 000 199 225
Opencast 000 0 0
Total 000 199 225
JV Underground 000 30 20
attributable
2
Opencast 000 74 0
Total 000 104 20
Lonmin Underground 000 2,983 3,265
Platinum
Opencast 000 458 556
Total 000 3,441 3,821
Tonnes Marikana Underground 000 2,790 2,815
milled3
Opencast 000 438 773
Total 000 3,228 3,588
Limpopo Underground 000 204 247
Opencast 000 0 0
Total 000 204 247
JV4 Underground 000 72 46
Opencast 000 187 0
Total 000 259 46
Ore Underground 000 20 0
purchases5
Lonmin Underground 000 3,086 3,108
Platinum
Opencast 000 625 773
Total 000 3,711 3,881
3 months 3 months
to 31 to 31
December December
2006 20051
Metals in Marikana Platinum oz 205,900 236,795
concentrate6
Palladium oz 95,690 105,560
Gold oz 5,672 5,800
Rhodium oz 26,714 31,762
Ruthenium oz 44,162 51,302
Iridium oz 9,323 10,552
Total PGMs oz 387,461 441,771
Nickel7 MT 995 967
Copper7 MT 602 579
Limpopo Platinum oz 10,346 12,090
Palladium oz 7,202 9,159
Gold oz 802 1,030
Rhodium oz 1,060 1,371
Ruthenium oz 1,720 1,868
Iridium oz 419 472
Total PGMs oz 21,549 25,990
Nickel7 MT 215 247
Copper7 MT 142 172
JV4 Platinum oz 13,462 2,779
Palladium oz 6,229 1,312
Gold oz 119 24
Rhodium oz 1,878 443
Ruthenium oz 2,816 702
Iridium oz 618 143
Total PGMs oz 25,122 5,403
Nickel7 MT 16 4
Copper7 MT 9 2
Ore Platinum oz 1,011 0
purchases5
Palladium oz 466 0
Gold oz 13 0
Rhodium oz 158 0
Ruthenium oz 253 0
Iridium oz 52 0
Total PGMs oz 1,953 0
Nickel7 MT 5 0
Copper7 MT 3 0
Lonmin Platinum oz 230,719 251,664
Platinum
Palladium oz 109,587 116,031
Gold oz 6,606 6,854
Rhodium oz 29,810 33,576
Ruthenium oz 48,951 53,872
Iridium oz 10,412 11,167
Total PGMs oz 436,085 473,164
Nickel7 MT 1,231 1,218
Copper7 MT 756 753
Metallurgy
3 months 3 months
to 31 to 31
December December
2006 2005
Metallurgy Lonmin Platinum oz 186,981 169,149
refined
Metal
Production
Palladium oz 81,064 54,862
Gold oz 5,535 5,766
Rhodium oz 21,634 14,863
Ruthenium oz 34,967 54,012
Iridium oz 6,635 11,468
Total PGMs oz 336,816 310,120
Toll refined Platinum oz 3,823 0
Metal
production
Palladium oz 1,764 0
Gold oz 0 0
Rhodium oz 588 0
Ruthenium oz 899 0
Iridium oz 178 0
Total PGMs oz 7,252 0
Total Platinum oz 190,804 169,149
Refined
PGMs
Palladium oz 82,828 54,862
Gold oz 5,535 5,766
Rhodium oz 22,222 14,863
Ruthenium oz 35,866 54,012
Iridium oz 6,813 11,468
Total PGMs oz 344,068 310,120
Base metals Nickel8 MT 989 1,109
Copper8 MT 611 730
Lonmin Group Metal Sales
Sales Refined Platinum oz 140,904 137,073
Metal
Sales
Palladium oz 58,351 54,147
Gold oz 5,515 4,882
Rhodium oz 17,740 19,356
Ruthenium oz 34,155 44,332
Iridium oz 9,102 7,344
Total PGMs oz 265,767 267,134
Concentrate Platinum oz 1,191 25,954
and other9
Palladium oz 473 11,306
Gold oz 119 1,012
Rhodium oz 44 2,861
Ruthenium oz 85 4,626
Iridium oz 20 967
Total PGMs oz 1,932 46,726
Lonmin Platinum oz 142,095 163,027
Platinum
Palladium oz 58,824 65,453
Gold oz 5,634 5,894
Rhodium oz 17,784 22,217
Ruthenium oz 34,240 48,958
Iridium oz 9,122 8,311
Total PGMs oz 267,699 313,860
Nickel8 MT 1,066 1,090
Copper8 MT 452 728
3 months 3 months
to 31 to 31
December December
2006 2005
Prices Average Platinum $/oz 1,071 910
Palladium $/oz 311 219
Gold $/oz 585 464
Rhodium $/oz 4,917 2,657
Ruthenium $/oz 189 74
Iridium $/oz 377 158
Nickel8 $/MT 25,352 9,370
Copper8 $/MT 6,622 3,823
Basket price of PGMs & $/kg 33,437 23,604
base metals
Exchange Average rate for period R/$
Rates 7.29 6.55
Closing rate R/$
6.97 6.34
Notes:
1 The quarter to 31 December 2005 comprised an additional 7 days
mining performance for WPL and EPL arising on the change of basis
to report on a calendar month.
2 JV attributable tonnes mined includes Lonmin`s share (42.5%) of
the total tonnes mined on the Pandora joint venture.
3 Tonnes milled excludes slag milling.
4 Lonmin purchases 100% of the ore produced by the Pandora joint
venture for onward processing which is included in downstream
operating statistics.
5 Relates to the tonnes milled and derived metal in concentrate
from third-party ore purchases.
6 Metals in concentrate has been changed from the previously
reported definition of full contained metal to adjust for
industry standard downstream processing losses.
7 Corresponds to contained base metals in concentrate.
8 Nickel is produced and sold as nickel sulphate crystals or
solution and the volumes shown correspond to contained metal.
Copper is produced as refined product but typically at LME grade
C.
9 Concentrate and other sales have been adjusted to a saleable
ounces basis using standard industry recovery rates.
Lonmin`s first half production report will be announced on 24 April 2007 and
interim results on 2 May 2007.
25th January 2007
Enquiries:
Alex Shorland-Ball +44 (0) 20 7201 6060
Vice President, Investor Relations & Communications
Date: 25/01/2007 09:00:23 Produced by the JSE SENS Department.
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