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Lonmin drops to fresh lows

Companies

Lonmin’s share price dropped by as much as 6% to fresh multi-year lows after the world’s third biggest platinum producer posted a full year operating loss.

Operating loss in the year ended September was US$702 million‚ from US$307 million operating profit the year before.

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Demonstrators wave placards during a site inspection by the judicial commission of inquiry into the shootings at Lonmin's Marikana mine October 1, 2012.

The company had said tragic events at Marikana significantly impacted operational and financial results.

At 10.40am‚ the counter was down 3.69% to R61.85‚ valuing the company at R12.559 billion. - I-Net Bridge

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