Lonmin’s Yearly Results Show Best Platinum Production in Six Years

Lonmin plc (LSE:LMI) released its final results for the year ended September 30, 2013, commenting that it produced 751,000 platinum ounces in concentrate, the most in six years and a 10.5-percent increase compared to last year. The company also sold 696,000 ounces of the metal, higher than its guidance of 660,000 ounces.

Revenue came in at $1,520 million, down from $1,164 million a year ago.

Ben Magara, Lonmin’s CEO, commented:

These are strong results. Despite the constraints faced at the start of the financial year our ramp up was impressive and we met production expectations with costs well under control and with many areas of the business recording their best performance in years. Our top management team has been strengthened and we have the right people in place to take Lonmin forward. Our focus for the coming year will be on driving higher performance and delivery further and harder whilst continuing with cost control and working to bring that same focus to the business critical issues of employee relationships and social responsibility.

Click here to read the full Lonmin plc (LSE:LMI) press release.