LONDON (dpa-AFX) - Lonmin Plc (LNMIF.PK, LMI.L) reported that its first-quarter platinum sales were 4.6% lower at 140,488 ounces, while PGM sales were 12.7% lower at 255,152 ounces. Refined Platinum production of 144,651 ounces was 10.4% lower than prior year on the back of reduced mining tonnes, lower grades and recoveries. For the first-quarter, mining production was down 166,000 tonnes or 7.0% on prior year at 2.2 million tonnes.
Sales guidance for the full year is maintained at between 640,000 and 670,000 Platinum ounces. The company said it is maintaining unit cost guidance of between R12,900 and R13,400 per PGM ounce produced. Capital expenditure guidance for the year of between R1.4 billion and R1.5 billion is maintained.
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