Lonmin counts closure costs

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Date: Monday 07 Jul 2008

LONDON (ShareCast) - Lonmin revealed the extent of production losses as normal smelting operations at its Number One furnace resumes after being closed because of a small water leak.

The mining giant estimates that the impact on production and sales of the power down is the deferral of between 5,000 and 10,000 ounces of platinum from the 2008 financial year into the 2009 financial year.

Lonmin said it found the small water leak in one of the copper cooling waffles.

"The copper waffle has been replaced and a full investigation into the cause of the leak is underway" the group said in a company statement.

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