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Bloomberg reported Lonmin Plc (LSE:LMI) has never been valued so cheaply versus its biggest mining competitor.
Bloomberg reported Lonmin Plc (LSE:LMI) has never been valued so cheaply versus its biggest mining competitor.
As quoted in the market news:
The third-largest platinum producer has plunged to the lowest share price since 2008 as Lonmin posted an unexpected loss and grappled with higher wage and power costs and an industrywide glut of platinum that’s used in jewelry and cars. The stock slump accelerated this month as 44 protesters and police officers were killed at Lonmin’s Marikana project, the worst mine violence in South Africa since apartheid ended.
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