30th Apr 2013 07:02
Lonmin Plc4 Grosvenor PlaceLondon SW1X 7YLUnited Kingdom
T: +44 (0)20 7201 6000F: +44 (0)20 7201 6100
www.lonmin.com
REGULATORY RELEASE
30 April 2013
Incident at Number Two Furnace
Lonmin Plc (Lonmin) announces that it has experienced an incident at its Number Two furnace, which has resulted in the furnace being shut down. No one was injured. The incident has happened at a time when Lonmin had just shut down the Number One furnace for its planned upgrade of the hearth and shell.
Our initial estimate is that a full repair to the Number Two furnace will take 30-40 days. A full inspection will be conducted once the furnace has cooled down later this week. The Three Pyromet furnaces, which have around 50% of our capacity requirements, continue to operate. In the meantime, we will be assessing the options around Number One and the impact of Number Two and we will update the market in due course.
In addition, following the fatality at the Merensky section of the K3 shaft last week, drilling and blasting operations at K3 have been suspended until the investigation, which is being undertaken in partnership with all stakeholders, is complete.
- ENDS -
ENQUIRIES
Investors / Analysts:
Lonmin
Tanya Chikanza (Head of Investor Relations) | +27 11 218 8358 / +44 20 7201 6007 |
Ruli Diseko (Investor Relations Manager) | +27 11 218 8300 |
Media:
Cardew Group
James Clark / Alexandra Stoneham | +44 20 7930 0777 |
Sue Vey | +27 72 644 9777 |
Brunswick - Johannesburg
Cecilia de Almeida | +27 11 502 7400 / +27 83 325 9169 |
Notes to editors
Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is one of the world's largest primary producers of PGMs. These metals are essential for many industrial applications, especially catalytic converters for internal combustion engine emissions, as well as their widespread use in jewellery.
Lonmin's operations are situated in the Bushveld Complex in South Africa, where nearly 80% of known global PGM resources are found.
The Company creates value for shareholders through mining, refining and marketing PGMs and has a vertically integrated operational structure - from mine to market. Lonmin's mining operations extract ore from which the Process Division produces refined PGMs for delivery to customers. Underpinning the operations is the Shared Services function which provides high quality levels of support and infrastructure across the operations.
For further information please visit our website: http://www.lonmin.com
Related Shares:
Lonmin