» JSE:LONMIN P L C: 37150c 0%

[miningmx.com] -- PLATINUM miner Lonmin has restructured its assets so that its empowerment partner Incwala holds an 18% stake in its Limpopo operation, the company said on Friday. "As part of this restructuring Western Platinum has signed a seven-year S$300m facility to finance the acquisition and refinance the debt in Messina," Lonmin said in a statement. The $300m facility has been provided by a syndicate of local and international banks. "This facility will replace the acquisition facility at the Lonmin Plc level used for the purchase of Southern Platinum and is in line with Lonmin's strategy of keeping the group's debt at the cash generating operational level," it said.