Lonmin shares up
PLATINUM miner Lonmin’s share price rose 9% to R12.19 yesterday after a profitable June quarter.
Although average platinum group metal prices rose in dollars from the same period in 2016, the stronger rand caused this to drop in rand terms.
Lonmin’s average unit cost was R11.278/oz, 4.7% lower than the last quarter but 6.4% higher than the previous year. —