Lonmin Plans to Increase Platinum Production

17 November 2010 (Last Updated November 17th, 2010 18:30)

South African mining company Lonmin Platinum will spend about $1bn over the next three years to increase its platinum output to 850,000oz a year. The company said it will invest nearly $380m this year and between $300m and $400m a year in 2012 and 2013. Lonmin also plans to invest

South African mining company Lonmin Platinum will spend about $1bn over the next three years to increase its platinum output to 850,000oz a year.

The company said it will invest nearly $380m this year and between $300m and $400m a year in 2012 and 2013.

Lonmin also plans to invest in the development of shaft structures, an underground ore body and a new furnace.

The company has earmarked $24m to be spent on tailings treatment plants in 2011.