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

Newswire

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 ...

Premium Content (PAID Subscription Required)

"UPDATE 1-Lonmin slashes spending plans, warns on platinum woes" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!


For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: lwilliamson@wardsauto.com or phone: (248) 799-2642
 

Current subscribers, please login or CLICK for support information.

Already registered? here.
Connect With Us

Sponsored Introduction Continue on to (or wait seconds) ×