1st Aug 2006 07:01
Lonmin PLC01 August 2006 Lonmin today announces its production report for the nine months to 30 June2006. Brad Mills, Chief Executive Officer said: "Our mining operations continue to perform very strongly reporting recordproduction for the nine months of 751,759 ounces of Platinum and 1,456,045ounces of total PGMs in concentrate increases of 8.8% and 11.0% respectively onthe same period last year. We remain on track to produce around 1 million ouncesof Platinum in concentrate from our mines for the full year. The ProcessDivision has ramped up more slowly than we had planned during the third quarterfollowing the April shutdown of the number one furnace. The problems we haveexperienced on the metallurgical side of the business have now beensubstantially resolved and we have begun the process of recommissioning theMerensky furnace at our Marikana site. This furnace will give us greateroperational flexibility in the future and will be operational from January 2007.Given the slower ramp up of the Process Division we now anticipate sales for thefull year will be around 950,000 to 960,000 ounces of Platinum." Mining Nine months to Nine months to 30 June 06 30 June 05Tonnes milled* Marikana Underground (000) 8,639 8,067 Opencast (000) 1,795 1,932 Total (000) 10,434 9,999 Limpopo Underground (000) 685 16 Opencast (000) 14 - Total (000) 699 16 Lonmin Platinum Underground (000) 9,324 8,083 Opencast (000) 1,809 1,932 Total (000) 11,133 10,015Tonnes mined Marikana Underground (000) 8,673 8,041 Opencast (000) 1,563 1,878 Total (000) 10,236 9,919 Limpopo Underground (000) 693 17 Opencast (000) 14 - Total (000) 707 17 Lonmin Platinum Underground (000) 9,366 8,058 Opencast (000) 1,577 1,878 Total (000) 10,943 9,936 *excluding slag Nine months to Nine months to 30 June 06 30 June 05Metals in concentrate Marikana Platinum oz 711,765 689,501 Palladium oz 317,865 297,778 Rhodium oz 101,810 96,193 Total PGMs oz 1,367,731 1,308,819 Limpopo Platinum oz 39,994 1,380 Palladium oz 30,251 918 Rhodium oz 5,068 43 Total PGMs oz 88,314 3,183 Lonmin Platinum Platinum oz 751,759 690,881 Palladium oz 348,116 298,696 Rhodium oz 106,878 96,236 Total PGMs oz 1,456,045 1,312,002 Metals in concentrate are contained ounces in concentrate produced during theperiod by the mining operations. Metallurgy Nine months to Nine months to 30 June 06 30 June 05Production Marikana refined Platinum oz 496,103 573,440 Palladium oz 214,643 244,062 Rhodium oz 75,292 55,709 Total PGMs oz 934,582 1,031,641 Marikana Platinum oz 49,340 32,361 concentrate* Palladium oz 21,595 17,035 Rhodium oz 6,177 9,520 Total PGMs oz 92,977 75,916 Limpopo Platinum oz 39,994 1,380 concentrate Palladium oz 30,251 918 Rhodium oz 5,068 43 Total PGMs oz 88,314 3,183 Lonmin Platinum Platinum oz 585,437 607,181 Palladium oz 266,489 262,015 Rhodium oz 86,537 65,272 Total PGMs oz 1,115,873 1,110,740 *Produced for sale as concentrate or toll refined. Lonmin Group Metal Sales Nine months to Nine months to 30 June 06 30 June 05Sales Lonmin Platinum Platinum oz 578,822 588,143 Palladium oz 264,357 251,745 Rhodium oz 90,208 65,408 Total PGMs oz 1,120,356 1,084,207 Prices Nine months to Nine months to 30 June 06 30 June 05Average price received per ounce Platinum R 6,613 5,224 $ 1,030 847 Palladium R 1,842 1,194 $ 290 193 Rhodium R 23,411 8,265 $ 3,638 1,367Basket price of PGMs and base $/kg 28,944 19,166metals Exchange Rates Nine months to Nine months to 30 June 06 30 June 05Average exchange rate Sterling $/£ 1.78 1.88 SA Rand R/$ 6.42 6.17Closing exchange rates Sterling $/£ 1.85 1.79 SA Rand R/$ 7.15 6.67 Lonmin's fourth quarter production report will be announced on 25 October 2006and Final Results will be announced on 15 November 2006. 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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