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LON - Lonmin Plc - Lonmin today announces its production report

Release Date: 25/04/2007 08:00
Code(s): LON
Wrap Text

LON - Lonmin Plc - Lonmin today announces its production report for the six months to 31 March 2007 (unaudited). Lonmin Plc (Incorporated in England and Wales) (Registered in the Republic of South Africa under registration number 1969/000015/10) JSE code:LON Issuer Code:LOLMI & ISIN:GB0031192486 ("Lonmin") First Half Production Report 25 April 2007 Lonmin today announces its production report for the six months to 31 March 2007 (unaudited). Brad Mills, Chief Executive Officer said: "Our second quarter production and sales of refined metal were impacted by the shutdown of the Number One furnace on 16 December 2006. Total refined metal sales were 513,278 ounces of total PGMs down 27.8% on the same period last year. We have completed the rebuild of the Number One furnace, which is currently heating up. We expect to resume normal smelting and refining operations by the end of this month. On 12 March 2007 we completed our first matte tap at our re-commissioned Merensky furnace. This furnace is running extremely well with throughput ahead of plan. Our mining operations were impacted by an extended Christmas break and a one day wildcat strike. Tonnes mined were in line with the first half of 2006 after stripping out the effect of the additional week in the prior year period. The concentrators delivered 450,894 ounces of Platinum in concentrate down some 3.6% on an equivalent basis principally as a result of poorer recoveries due to the mix of ore types processed during the period." 6 months to 31 6 months to 31 March March 2007 20061 Tonnes Marikana Underground 000 5,580 5,676 mined Opencast 000 704 899 Total 000 6,284 6,575 Limpopo Underground 000 390 461 Opencast 000 - 14 Total 000 390 475 Pandora Underground 000 60 50 attributabl e2 Opencast 000 150 35 Total 000 210 85
Lonmin Underground 000 6,030 6,187 Platinum Opencast 000 854 948 Total 000 6,884 7,135
Tonnes Marikana Underground 000 5,581 5,622 milled3 Opencast 000 738 1,196 Total 000 6,319 6,817
Limpopo Underground 000 397 487 Opencast 000 - 14 Total 000 397 501 Pandora4 Underground 000 141 117 Opencast 000 336 68 Total 000 477 185 Ore Underground 000 72 - purchases5 Lonmin Underground 000 6,191 6,226 Platinum Opencast 000 1,074 1,278
Total 000 7,265 7,504 6 months to 31 6 months to 31
March March 2007 20061 Metals in Marikana Platinum oz 403,860 448,134 concentrat e6 Palladium oz 183,862 206,833 Gold oz 11,191 10,675 Rhodium oz 53,164 61,152
Ruthenium oz 86,078 87,644 Iridium oz 17,967 18,329 Total PGMs oz 756,122 832,766 Nickel7 MT 1,933 2,020
Copper7 MT 1,160 1,228 Limpopo Platinum oz 18,759 25,926 Palladium oz 13,083 21,605 Gold oz 1,448 3,026
Rhodium oz 1,955 3,208 Ruthenium oz 3,053 5,205 Iridium oz 722 1,085 Total PGMs oz 39,020 60,055
Nickel7 MT 416 491 Copper7 MT 285 337 Pandora4 Platinum oz 25,600 10,203 Palladium oz 11,997 4,707
Gold oz 226 96 Rhodium oz 3,707 1,543 Ruthenium oz 5,511 2,401 Iridium oz 1,197 487
Total PGMs oz 48,238 19,437 Nickel7 MT 30 3 Copper7 MT 17 6 Ore Platinum oz 2,675 - purchases5 Palladium oz 1,233 - Gold oz 36 - Rhodium oz 416 -
Ruthenium oz 670 - Iridium oz 138 - Total PGMs oz 5,168 - Nickel7 MT 16 -
Copper7 MT 9 - Lonmin Platinum oz 450,894 484,263 Platinum Palladium oz 210,175 233,145 Gold oz 12,901 13,797 Rhodium oz 59,242 65,903 Ruthenium oz 95,312 95,249
Iridium oz 20,024 19,901 Total PGMs oz 848,548 912,258 Nickel7 MT 2,395 2,514 Copper7 MT 1,471 1,571
6 months to 31 6 months to 31 March March 2007 20061
Metallurgy Lonmin Platinum oz 259,434 356,351 refined Metal Production Palladium oz 116,581 159,536 Gold oz 7,555 9,336 Rhodium oz 31,019 56,773 Ruthenium oz 42,587 82,261
Iridium oz 12,839 15,901 Total PGMs oz 470,015 680,158 Toll Platinum oz 23,872 - refined Metal production Palladium oz 10,862 - Gold oz 0 -
Rhodium oz 3,447 - Ruthenium oz 5,409 - Iridium oz 1,063 - Total PGMs oz 44,653 -
Total Platinum oz 283,306 356,351 Refined PGMs Palladium oz 127,443 159,536
Gold oz 7,555 9,336 Rhodium oz 34,466 56,773 Ruthenium oz 47,996 82,261 Iridium oz 13,902 15,901
Total PGMs oz 514,668 680,158 Base metals Nickel8 MT 1,604 - Copper8 MT 826 -
Sales RefinedMeta Platinum oz 273,191 364,133 lSales Palladium oz 124,884 170,992 Gold oz 7,560 10,251
Rhodium oz 37,170 59,566 Ruthenium oz 56,492 88,853 Iridium oz 13,981 16,717 Total PGMs oz 513,278 710,512
Concentrate Platinum oz 1,249 47,195 and other9 Palladium oz 496 20,760 Gold oz 2,037 1,832
Rhodium oz 46 5,344 Ruthenium oz 90 9,093 Iridium oz 22 1,928 Total PGMs oz 3,940 86,152
Lonmin Platinum oz 274,440 411,328 Platinum Palladium oz 125,380 191,752 Gold oz 9,597 12,083
Rhodium oz 37,216 64,910 Ruthenium oz 56,582 97,946 Iridium oz 14,003 18,645 Total PGMs oz 517,218 796,664
Nickel8 MT 2,232 2,457 Copper8 MT 774 1,314 6 months to 31 6 months to 31
March March 2007 20061 Prices Average Platinum $/oz 1,103 968 Palladium $/oz 325 266
Gold $/oz 602 511 Rhodium $/oz 5,325 3,142 Ruthenium $/oz 305 79 Iridium $/oz 392 176
Nickel8 $/MT 25,067 10,431 Copper8 $/MT 6,558 4,149 Basket price of PGMs $/oz 1,102 847 ExchangeRa Average rate for period R/$ tes 7.31 6.29 Closing rate R/$ 7.24 6.15 Notes: 1 The six months to March 2006 comprised an additional 7 days mining performance for WPL and EPL arising on the change of basis to report on a calendar month. 2 JV attributable tonnes mined includes Lonmin`s share (42.5%) of the total tonnes mined on the Pandora joint venture. 3 Tonnes milled excludes slag milling. 4 Lonmin purchases 100% of the ore produced by the Pandora joint venture for onward processing which is included in downstream operating statistics. 5 Relates to the tonnes milled and derived metal in concentrate from third-party ore purchases. 6 Metals in concentrate has been changed from the previously reported definition of full contained metal to adjust for industry standard downstream processing losses. 7 Corresponds to contained base metals in concentrate. 8 Nickel is produced and sold as nickel sulphate crystals or solution and the volumes shown correspond to contained metal. Copper is produced as refined product but typically at LME grade C. 9 Concentrate and other sales have been adjusted to a saleable ounces basis using standard industry recovery rates. Lonmin`s interim results will be announced on 2 May 2007. Enquiries: Alex Shorland-Ball +44 (0) 20 7201 6060 Vice President, Investor Relations & Communications Date: 25/04/2007 08:00:13 Supplied by www.sharenet.co.za Produced by the JSE SENS Department.

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