Lonmin drops to fresh lows

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

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.

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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