Lonmin PLC.

Published : August 19th, 2016

Lonmin Secures $50m Funding for Tailings Project

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Lonmin Secures $50m Funding for Tailings Project

Lonmin Secures $50 million Funding For Tailings Project

Lonmin Plc ('Lonmin' or 'the Company'), is pleasedto announce that it has secured competitive funding of $50 million for the Bulk Tailings Treatment project ('the BTT project' or 'the project') through a specific project finance metal streaming arrangement.The first tranche of project funding of $9 million has now been received and work has already started on the project.

The BTT project involves the re-mining of Lonmin's Easterns Tailings Dam. The project entails the reprocessing of 26 million tonnes of Tailings material at a rate of 300,000 tonnes per month. Commissioning and ramp up to full production is expected during the 2018 Financial Year.

Once at steady-state, the project is expected to produce about 29,000 ounces of Platinum per year or some 55,000 ounces of PGM, at a yield of 0.5 grammes per tonne (5PGE+Au) (grade of 1.42 grammes per tonne at a recovery of 35%). The project is part of Lonmin's business plan and is expected to produce the lowest cost ounces in the Lonmin portfolio.

'The BTT project is part of our strategy to focus on low cost ounces to maximise our cash position and create value for all our stakeholders,' said Lonmin's Chief Executive Ben Magara.

- ENDS -


Investors / Analysts:


Tanya Chikanza (Head of Investor Relations) +27 11 218 8358 /+44 207 201 6007

Andrew Mari (Investor Relations Manager) +27 11 218 8420


Cardew Group

Anthony Cardew / Emma Crawshaw

+44 207 930 0777

Sue Vey

+27 60 523 7953

Notes to editors

Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is one of the world's largest primary producers of PGMs. These metals are essential for many industrial applications, especially catalytic converters for internal combustion engine emissions, as well as their widespread use in jewellery.

Lonmin's operations are situated in the Bushveld Igneous Complex in South Africa, where more than 70% of known global PGM resources are located.

The Company creates value through mining, refining and marketing PGMs and has a vertically integrated operational structure - from mine to market. Underpinning the operations is the Shared Services function which provides high quality levels of support and infrastructure across the operations.

For further information please visit our website: http://www.lonmin.com

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Georgia | South Africa | All
Gold and Silver Prices for these countries : Georgia | South Africa | All

Lonmin PLC.

ISIN : GB0031192486
CUSIP : 54336Q203
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Lonmin is a gold and platinum producing company based in United kingdom.

Lonmin produces gold, platinum, palladium and rhodium in South Africa, and holds various exploration projects in Canada, in Gabon, in South Africa and in Tanzania.

Its main assets in production are PANDORA JV, LIMPOPO, MARIKANA, EASTERN PLATINUM (EPL) and KAREE MINE (WPL) in South Africa and its main exploration properties are LUWUMBU in Tanzania, PANTON in Australia, MESSINA PLATINIUM and WESTERN PLATINUM in South Africa and WINDY LAKE in Canada.

Lonmin is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 21.4 billions as of today (US$ 25.0 billions, € 22.3 billions).

Its stock quote reached its highest recent level on August 28, 2009 at GBX 9 964.65, and its lowest recent point on June 28, 2019 at GBX 75.60.

Lonmin has 282 784 288 shares outstanding.

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