THE UGLY

Finweek English Edition - - THE WEEK -

Strug­gling plat­inum miner Lon­min has warned share­hold­ers that it may have to stop op­er­a­tions un­less its pro­posal to raise $400m in eq­uity, its third cap­i­tal-rais­ing in six years, is ap­proved. The miner, which is cut­ting 6 000 jobs, plac­ing two shafts on care and main­te­nance, is ex­pected to an­nounce im­pair­ments of up to $2.05bn, or R28bn, when it re­leases its financial re­sults on 9 Novem­ber. (Also see pages 13 and 30.)

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