25th Jan 2007 07:01
Lonmin PLC25 January 2007 Lonmin Plc 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 tonnesmined in line with our expectations and flat versus Q1 2006 after stripping outthe effect of the additional week in the prior year period. Limpopo operationsfocussed on development during the period as part of our programme to ramp upproduction in the second half of the year. The Pandora JV started contributingsignificantly to production during the period. We continue to be on track todeliver between 1.02 and 1.04 million saleable ounces of Platinum in concentratefrom our mining operations this financial year. Total refined PGM productionincreased 10.9% year on year. Refined PGM sales were flat on 2006 as a result ofcustomer delivery schedules. Our sales forecast for the year remains around980,000 to 1 million ounces of Platinum." Mining 3 months to 3 months to 31 December 31 December 2006 2005(1)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 attributable(2) Underground 000 30 20 Opencast 000 74 0 Total 000 104 20 Lonmin Platinum Underground 000 2,983 3,265 Opencast 000 458 556 Total 000 3,441 3,821 Tonnes milled(3) Marikana Underground 000 2,790 2,815 Opencast 000 438 773 Total 000 3,228 3,588 Limpopo Underground 000 204 247 Opencast 000 0 0 Total 000 204 247 JV(4) Underground 000 72 46 Opencast 000 187 0 Total 000 259 46 Ore purchases(5)Underground 000 20 0 Lonmin Platinum Underground 000 3,086 3,108 Opencast 000 625 773 Total 000 3,711 3,881 3 months to 3 months to 31 December 31 December 2006 2005(1)Metals in Marikana Platinum oz 205,900 236,795concentrate(6) 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 Nickel(7) MT 995 967 Copper(7) 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 Nickel(7) MT 215 247 Copper(7) MT 142 172 JV(4) 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 Nickel(7) MT 16 4 Copper(7) MT 9 2 Ore purchases(5)Platinum oz 1,011 0 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 Nickel(7) MT 5 0 Copper(7) MT 3 0 Lonmin Platinum Platinum oz 230,719 251,664 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 Nickel(7) MT 1,231 1,218 Copper(7) MT 756 753 Metallurgy 3 months to 3 months to 31 December 31 December 2006 2005Metallurgy Lonmin refined Platinum oz 186,981 169,149 Metal Palladium oz 81,064 54,862 Production 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 Palladium oz 1,764 0 production 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 Palladium oz 82,828 54,862 PGMs 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 Nickel(8) MT 989 1,109 Copper(8) MT 611 730 Lonmin Group Metal Sales Sales Refined Platinum oz 140,904 137,073 Metal Palladium oz 58,351 54,147 Sales 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 and Platinum oz 1,191 25,954 other(9) 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 Platinum oz 142,095 163,027 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 Nickel(8) MT 1,066 1,090 Copper(8) MT 452 728 3 months to 3 months to 31 December 31 December 2006 2005Prices 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 Nickel(8) $/MT 25,352 9,370 Copper(8) $/MT 6,622 3,823 Basket price of PGMs & base metals $/kg 33,437 23,604 Exchange Average rate for period R/$ 7.29 6.55Rates 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 andinterim results on 2 May 2007. Enquiries:Alex Shorland-Ball +44 (0) 20 7201 6060Vice President, Investor Relations & Communications This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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