Miner Lonmin narrows first-half loss, cuts annual spending target
Reuters
Published May 14, 2018 07:22
Miner Lonmin narrows first-half loss, cuts annual spending target
LONDON (Reuters) - Lonmin (L:LMI) (J:LONJ) said on Monday it narrowed its first-half operating loss and lowered its spending target for the year as the platinum miner prepared for a merger with Sibanye-Stillwater (J:SGLJ),
The London-listed miner, which is being bought by Sibanye-Stillwater, reported a first-half operating loss of $32 million (23.6 million pounds) compared with a loss of $181 million a year earlier.
It lowered its full year capital expenditure target to 1.2-1.3 billion rand ($98 million-$106 million) from 1.4-1.5 billion.
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Written By: Reuters
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