Lonmin Faces Strike Threat to Platinum Output Goal, RBC Says
This article is for subscribers only.
Lonmin Plc, the world’s third-largest platinum producer, may fall short of its annual output target by about 2 percent if a strike at its Karee mine in South Africa continues, RBC Capital Markets analyst Leon Esterhuizen said.
Missing the goal of producing 750,000 ounces of platinum in the year to Sept. 30 is “probably a given,” he said today. The target will probably be cut to about 730,000 or 735,000 ounces if Karee doesn’t resume output in the next two weeks, he said.