Lonmin: No decision on restructuringComment on this story
London - Platinum producer Lonmin said it has not made a decision on the size and shape of a business restructuring and its immediate aim is to ramp up production after a crippling five-month platinum strike that hit the sector this year.
“No decisions, about the size and shape of any restructuring of the business, have been made,” the company said in a statement on Tuesday.
Industry sources said on Monday that the company is planning a business restructuring, which will include the shut down of some of the company's shafts and job cuts.
“Lonmin's immediate focus following the five-month strike is to achieve a safe ramp up of production in order to rebuild the business and restore profitability,” Lonmin said, pointing out that the ramp up was progressing “better than planned”. - Reuters