Lonmin to issue shares at deep 94% discount
Shares in Lonmin would be sold for 21.4 cents - a 94% discount - in terms of its $400m rights offer that nonetheless paves the way for $370m in debt refinancing.
Shanduka swears committment to Incwala
Shanduka said it remained committed to its investment in Incwala Resources through which it has a 9% investment in debt-laden platinum miner, Lomin
Shanduka to abandon 9% Lonmin stake
Lonmin's BEE partner Shanduka said it will walk away from its stake in the company, which is held through Incwala Resources.
Lonmin rights offer a folly, say analysts
In the absence of its ambitious platinum price forecast materialising, Lonmin's $400m rights offer may just lead to further, more serious, turmoil in the future.
Lonmin to write down assets by $2.1bn
Lonmin said it had made progress on its plans to retrench 6,000 jobs and said assets had been revalued to between $1.6bn and $1.8bn.
Signs that platinum market has bottomed
There are signs that the platinum market may have put the worst behind it, according to analysts and market commentators.
Eastern Platinum sale may be at risk
An apparent bust-up between shareholders in Chinese group Hebei Zhongbo Platinum has thrown a question mark over the purchase of Eastern Platinum.
Lonmin announces radical restructuring and fund raising plans
Beleaguered miner plans to raise around $770-million in debt and equities while closing shafts and
shedding around 6000 jobs in an effort to cut costs.
JP Morgan “encouraged” by Lonmin plans
Lonmin shares stayed in positive territory in trading on the JSE today as investors digested the new business plan and funding strategy.
Northam applies wage deal at Booysendal
Northam Platinum has applied a wage deal between its mining contractor and unions, including AMCU, at its Booysendal mine.