Lonmin reports widening losses

Mining company Lonmin has reported an annual loss of $1.2 billion (£861 million) on the back of a $1bn impairment charge related to its Marikana mine in South Africa.

It marked a widening of losses from $355m a year earlier, but chief executive Ben Magara said its takeover by Sibanye-stillwater would provide a “stronger platform” for its shareholders.