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SA platinum slide takes market into deficit

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South African platinum production would be 300,000 ounces lower in 2012, said Johnson Matthey helping the market swing into a remarkable 400,000 oz deficit.

Lonmin urges support for $800m rights offer

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Lonmin said its future was in jeopardy unless shareholders supported its refinancing, due for a shareholder vote on November 19. Crucially, it kept the door open to Xstrata.

Xstrata turns screws on Lonmin in takeover effort

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In an extraordinary exchange, Lonmin has rejected the calls from its shareholder to a reverse takeover and the resignation of its Board.

Lonmin seeks $800m in rights issue

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UPDATED: Lonmin has proposed a rights issue of $800m, likely to take place before the end of the year, as part of a strategy to refinance its balance sheet.

Battle weary Lonmin slashes capex further

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Lonmin has reined in capital expenditure for the next two years by another 23% as the company seeks to map its way forward following the events at Marikana.

Genorah to keep Nkwe stake

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Nkwe Platinum says the equity stake of its major shareholder, Genorah Resources, is safe following the lapse of a security lending agreement.

Talks on platinum forum lose momentum

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Negotiatons on the establishment of a central bargaining platform for the platinum sector is losing momentum, says a union official, while Amcu refuses to return to talks.

Lonmin refutes collusion prior to shootings

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Lonmin has defended director Cyril Ramaphosa, who was placed at the centre of potentially controversial e-mails only 24 hours prior to the shootings of Marikana miners in August.

Amplats holds off on further dismissals

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Anglo American Platinum says it is holding off on dismissing striking workers at its Union and Amandelbult mines.

Everyone in platinum ‘is now making money’

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There’s a short-term benefit flowing through to the platinum sector, ironically owing to the undoubtedly long-term negatives attached to the strike action.