UPDATE 1-Lonmin slashes spending plans, warns on platinum woes


LONDON, July 26 (Reuters) - Lonmin, battling turbulence in the platinum sector, has slashed its spending plans and decided to hold back efforts to ramp up key shafts, warning a period of poor demand and weak prices could persist for longer than it had previously expected. The miner has cut 2012 spending by $20 million to $430 million and has slashed capital spend for its 2013 and 2014 financial years to just $250 million, deferring spending on its key Hossy, K4 ...

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