Lonmin is confident of meeting annual platinum sales targets following positive production figures.

The mining company said that it was on track to reach previously set targets and that production levels had increased compared to the same time last year.

Full-year target figures for Lonmin are set at around one million ounces of platinum sales and 1.9 million ounces of total group metal sales.

"Production for the first quarter of our 2006 financial year was in line with our expectations at 196,045 ounces of platinum and 363,737 ounces of total pgms and well ahead of the same period last year," said a statement from the firm.

Lonmin added that work on the rebuilding of the number one furnace had begun earlier this month and would be completed in line with initial plans.

The firm produced 914,420 ounces of platinum in the year to September 2005, leaving it with a pre-tax profit of $323 million, while the recent rise in platinum prices is expected to further boost 2006 results.


Ÿ Adfero Ltd