Lonmin Mining News

About 2,500 jobs on the line at Impala Platinum’s Rustenburg operations

The miner warned further reductions could be in store at those operations, which employ 31,000 people.

Lonmin ups stake in Pandora platinum mine

Consolidation in South African's platinum mining sector continued on Friday with Lonmin's decision to buy Amplats' stake in the Pandora platinum mine.

Lonmin investors approve key $407m rights issue

The move will allow the platinum miner to restructure its debt and, it hopes, weather an ongoing decline of platinum prices.

Lonmin sees salvation, launches $407m rights issue at only 1 pence per share

The company has priced its $407 million share sale at a discount of 94% as it fights for survival after a near-collapse in the commodity's price.

Lonmin may shut down if shares sale flunks

The radical decision would make of the platinum producer the biggest casualty of the ongoing commodity rout that is hurting miners worldwide.

Lonmin warns of $2bn write-down, 6,000 job cuts

The world’s third-largest platinum producer is also planning layoffs, cutting capex and lowering unit costs.

South Africa replaces mining minister on eve of massive job cuts

Given that ousted minister Ramatlhodi is considered the main person that helped end a five-month strike in the country’s platinum sector last year, Zuma's decision is being questioned.

SA platinum cuts to hurt global output over next two years

Supply for the year, however, is expected to increase by 9% to 7.91 million ounces, owing to the recovery in the country’s output following strikes in 2014, as well as increased platinum recycling.

S. Africa campaigners jump all over Marikana killings report

They claim the official report on the police killing of 34 striking miners in 2012 is a "gross defamation" of those who died.

South African commission finds police to blame in Marikana deaths

The commission into the deaths at Lonmin's Marikana platinum mine in August 2012 concluded the plan to quell the massive protest was “defective,” and shouldn't have been executed as such.

Lonmin shares collapse as Glencore completes stake divestment

The move may create a group of sellers that want to dispose of their holding, or it could open the door to a buyer, according to analysts.

S.Africa Marikana mining massacre report submitted

President Jacob Zuma received on Tuesday the official report into the police killing of 34 South African miners in 2012, as rights groups demanded that its findings be quickly made public.

Anglo American mulls sale of more coal mines in Australia

The operations that may be added to the list of assets for sale are Dawson and Foxleigh, in Queensland.

Cutifani says tough decisions needed to restore credibility

Anglo's chief warned the company plans to take severe measures over the next two years.

Anglo American chief not going for any major corporate split

A big corporate break-up à la BHP Billiton is definitively not in his books, he told FT.com.

Anglo American platinum production down 40% after S. Africa strike

Output from the rest of Anglo's diversified mining assets rose, but it wasn't enough to offset underperformance at its platinum mines.

Amplats expects severely lower profits after five-month strike

The firm warned first-half profit may drop as much as 96%.

South African metal workers 'to escalate' strike

The National Union of Metalworkers in South Africa (NUMSA) has rejected the latest offer because it didn't include a double-digit wage increase for all three years.

Turkish miner, Lonmin to explore for gold, silver in Ireland

Turkish gold miner Koza Altın has established a wholly owned subsidiary in Britain to undertake mining activities abroad.

Anglo American goes ahead and puts platinum mines, other assets up for sale

The firm is offloading some of its historic South African platinum mines as part of a $4bn sale of under-performing assets.

South Africa’s platinum miners to resume working

The three-year agreement ends the country's longest and costliest strike.

South African court rules gold miners not allowed to strike

The union leading the five-month strike in the platinum sector take any industrial action affecting gold producers.

Anglo to sell platinum mines in South Africa next year— report

Deutsche Bank has put a $1.4 billion price tag on the operations.

South Africa teeters towards recession on labour dispute

The latest attempt to end South Africa’s 21-week platinum strike has failed, pushing the country towards a recession and increasing the odds the sector will be smaller and more mechanized when it eventually resumes operations.

South Africa reshuffles cabinet, names new mineral resources minister

Susan Shabangu, highly criticized for her handling of a strike in the platinum sector, was booted out from a cabinet that now includes South Africa's first black minister and a first openly gay official.