LON - Lonmin Plc - Update on Number One Furnace

LON - Lonmin Plc - Update on Number One Furnace                                 
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")                              
24 June 2009                                                                    
Lonmin Plc                                                                      
Update on Number One Furnace                                                    
Lonmin Plc ("Lonmin" or "the Company") today provides an update on the matte    
run-out incident at the Number One furnace, announced on Monday 15 June.        
An inspection of the Number One furnace has established that the source of      
the matte run-out was a water leak in one of the lower copper cooling waffle    
units above one of the matte tappe blocks. This unit is being replaced and a    
full investigation into the cause of the leak is underway.                      
Matte is expected to be tapped again at the Number One furnace within the       
previously estimated 30 days, during which time the vessel will be fully        
repaired, monitored and tested. Our initial total cost estimate for the         
repair of the furnace and the extra costs of running our Pyromet furnaces is    
around US$4 million. The Pyromet furnaces tapped matte on 21 June 2009 and      
will remain in operation until September 2009.                                  
As a result of utilising our additional smelting capacity, we expect to         
process the majority of the concentrate inventory built up ahead of the         
Smelter during the Number One furnace shutdown before the end of the 2009       
financial year. However, the shutdown will impact our ability to fully refine   
the remainder of this built up metal in process during that period.             
As a consequence of the shutdown, it is estimated that at 30 September 2009     
there could be an increase in metal in process of up to 20,000 ounces of        
Platinum.                                                                       
- Ends -                                                                        
ENQUIRIES:                                                                      
Investors / Analysts:                                                           
Rob Gurner                                             + 44 (0) 207 201 6050    
Head of Investor Relations                                                      
Media:                                                                          
Cardew Group                                           + 44 (0) 207 930 0777    
Anthony Cardew / Rupert Pittman                                                 
Financial Dynamics                                     + 27 (0) 21 487 9000     
Dani Cohen / Ravin Maharaj                                                      
Date: 24/06/2009 08:00:03 Supplied by www.sharenet.co.za                     
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