JOHANNESBURG - Mining company Lonmin said on Monday weak platinum prices and currency movements continued to create a difficult operating environment.
In its report for the six months ended March 31, Lonmin said total tonnes mined were down 1.1 percent, reflecting the planned reduction from high cost areas.
It said following an offer from Sibanye-Stillwater to acquire Lonmin, management’s principal objectives in 2018 were to continue to manage the deliverables within its control and remain at least cash neutral.
"We are making good progress with the transaction and expect to complete in the second half of the 2018 calendar year," Lonmin said.