Platinum miner Lonmin has announced that it has achieved an output of one million ounces of platinum in the year to the end of September.

The company has revealed that its annual mining operations reached 1,017,137 platinum ounces over the 12 months to September 30th, beating its target of mining one million ounces in the year.

Lonmin also achieved a 4.4 per cent rise in sales of platinum over the same period, while total sales of platinum group metals grew by 7.4 per cent.

In its trading update, the world's third largest mining company added that its fourth quarter platinum sales increased by 15 per cent, on the back of improved mining at its Marikana operations.

Meanwhile, sales of palladium increased by 18 per cent, although rhodium sales dipped by 14 per cent over the course of the year, Lonmin stated.

Earlier this month, Lonmin became the first platinum miner to convert its old order mining rights at Marikana to new order mining rights.

Ÿ Adfero Ltd