Lonmin has revealed today (24th June) that the metal in process at its Number One furnace could eventually increase as a result of its recent closure.

The world's third-largest platinum producer shut down its main smelting facility in South Africa ten days ago after workers reported a matte run-out.

However, it now plans to focus on processing the majority of its concentrate inventory in the meantime, leading platinum in process to rise by 20,000 oz by 30th September.

The company also announced that an investigation into the incident found that a lower copper cooling waffle unit above one of the matte tap blocks had been leaking water.

Lonmin will now replace the unit after pinpointing the source of the problem and has also confirmed that the previous repairs estimate of 30 days remains intact.

"As a result of utilising our additional smelting capacity, we expect to process the majority of the concentrate inventory built up ahead of the smelter during the Number One furnace shutdown before the end of the 2009 financial year," read a statement.

"However, the shutdown will impact our ability to fully refine the remainder of this built up metal in process during that period."

Lonmin currently has two multi-shaft mining operations on the Bushveld Complex in South Africa, located in the Marikana and Limpopo regions.

Source:

Update on Number One furnace (24/06/09)

Ÿ Adfero Ltd