Platinum miner Lonmin has repported strong first half profits for the year ending March 31st, as mine production it record highs.

In total the firm's mines produced 501,827 ounces of platinum and a further 977,352 ounces of total pgms in concentrate.

With the rebuilt smelter joining operations in just 27 days, the smelting sector has also hit highs, setting a new record in March.

Annual production estimates remain unaffected by the latest news, meaning the firm is still set to produce around one million ounces of platinum in concentrate for the financial year ending September 30th.

Lonmin’s chief executive Brad Mills was bullish on the figures, welcoming the "record financial results" as earnings per share rose by 152 per cent in comparison with the same period in 2005.

"Our operational performance has been excellent with record production from our mines with 501,827 ounces of platinum produced in concentrate and the completion of the smelter rebuild in only 27 days," he said.

"We are on track to grow our production to 1.3 million platinum ounces in 2010 and are working to lock in additional growth beyond this from identified projects, our exploration portfolio and where appropriate strategic acquisitions," he added.

One minor drawback for the firm was a downturn in expected annual sales, although this was attributed to the downtime at the smelter whilst it was rebuilt.


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