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Lonmin shares rise after company says it narrowed its first-half loss

Lonmin shares rise after company says it narrowed its first-half loss

Shares of Lonmin PLC, a platinum miner with operations with in South Africa, rose 6 percent Wednesday after the company said it narrowed its first-half loss.
The company also said it has reopened a furnace that while closed had cut output.
The loss in the six months through March 31 narrowed to US$3 million (euro2.2 million), compared with a loss of US$67 million in the same period a year earlier, the company said in a statement. Revenue fell 11 percent to US$631 million (euro462.7 million).
Lonmin said it will process 185,000 ounces of metals of the platinum group by September, benefiting from rising prices.
Shares in Lonmin rose 6 percent to 3,519 pence (US$70.41; euro51.64) on the London Stock Exchange.


Updated : 2021-04-21 14:58 GMT+08:00