Lonmin has announced that the completion of the rebuilding work at its Number One furnace is to be delayed.

The platinum miner has reported that it has extended the rebuild timetable to around 135 days, so that the first matte tap is now scheduled for the end of April this year.

It announced that the extension is required because a number of furnace bricks used in the construction of the rebuild failed "certain capability tests".

However, Lonmin has said the delay will not impact on its full year sales forecast, which remains at between 980,000 and one million ounces of platinum, because the firm will offset the lost production by accelerating the start-up at its newly-recommissioned Merensky furnace.

According to Lonmin, the first matte tap at Merensky is expected early in March and once the Number One furnace comes back on-stream, both will be run together.

Lonmin estimates that the cost of the repair work to its Number One furnace will now reach in the region of R55 million.

Ÿ Adfero Ltd