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Lonmin reports H1 operating loss, cuts spending target
May 15, 2017 / 6:27 AM / 4 months ago

Lonmin reports H1 operating loss, cuts spending target

LONDON, May 15 (Reuters) - South Africa-focused platinum producer Lonmin on Monday reported a first-half operating loss of $181 million hit by higher costs and lower production.

It reported a headline loss of $39 million versus a loss of $4 million a year earlier. It had a loss per share of 64.4 cents versus 1.8 cents.

The London-listed miner also cut its spending plan for the year to a range of 1.4 billion to 1.5 billion rand ($105.1 million to $112.6 million) from 1.8 billion rand.

$1 = 13.3172 rand Reporting by Zandi Shabalala; editing by Jason Neely

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