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Number One Furnace Shut Down Update

24th May 2010 07:00

RNS Number : 3900M
Lonmin PLC
24 May 2010
 



Number One Furnace Shut Down Update

 

Lonmin Plc ("Lonmin") announces that it has suffered a setback during the recommissioning process of its Number One furnace in the form of a leak around a slag tap hole. The incident happened as the furnace was still being stabilised following its restart on 12th May.

Our initial estimate is that commissioning will now take another 25-30 days, during which time the three Pyromet furnaces will continue to operate. Together these furnaces have around 40% of the capacity of the Number One furnace. In addition, the risk mitigation plans announced at the interims which include replacing the waffle coolers with refractory bricks and plate coolers are in hand.

 

In order to maintain our sales guidance of 700,000 ounces of Platinum for 2010, we will need to increase the volume of toll refining over and above our current contractual commitments.

 

 

END

 

 

ENQUIRIES:

 

Investors / Analysts:

Tanya Chikanza +44 (0) 207 201 6007

Acting Head of Investor Relations

 

Media:

Cardew Group +44 (0) 207 930 0777

Rupert Pittman / James Milton

Financial Dynamics +27 (0) 21 487 9000

Dani Cohen / Ravin Maharaj

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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