LONDON (ShareCast) - Lonmin’s chief executive Brad Mills spent the equivalent of £350,000 on shares in the platinum miner, the company announced today.

Mills – a US national who has previously held senior roles with the mining company BHP, helping to bring about its merger with Billiton – bought 10,000 shares at $67.36 each.

Last week, Lonmin, which mines for platinum in South Africa, reported a strong rise in half year profits, helped by surging prices for the precious metal.

Pre-tax profit rose to $396m for the six months ended 31 March 2008, from $132m the year before, on strong platinum prices. Sales for the period rose to $907m from $631m.

"Financial results for the first six months were at record levels on the back of strong platinum group metals price appreciation," Mills said.

Platinum prices rose an average of 43% over the last 12 months to $1,578 per ounce.

While power outages in South Africa have curbed Lonmin’s platinum output – figures for last month show the company’s platinum production dropped 22% to 346,892 ounces – they have also been instrumental in pushing up prices for the metal.


Top Director Buys

Jardine Matheson (Singapore) (JAR)
Director name: Mr Henry Keswick
Amount purchased: 123,074 @ $31.55
Value: $3,882,739

Jardine Matheson (Singapore) (JAR)
Director name: Mr Benjamin William Keswick
Amount purchased: 78,679 @ $31.55
Value: $2,482,165

Jardine Matheson (Singapore) (JAR)
Director name: Mr Simon L Keswick
Amount purchased: 78,679 @ $31.55
Value: $2,482,165

Jardine Matheson (Singapore) (JAR)
Director name: Mr E P K Weatherall
Amount purchased: 52,390 @ $31.55
Value: $1,652,800

Jardine Matheson (Singapore) (JAR)
Director name: Mr Benjamin William Keswick
Amount purchased: 32,183 @ $31.55
Value: $1,015,309

Jardine Matheson (Singapore) (JAR)
Director name: Mr Adam Phillip Charles Keswick
Amount purchased: 23,883 @ $31.55
Value: $753,461

Lonmin (LMI)
Director name: Mr Bradford Mills
Amount purchased: 10,000 @ 3,439.33p
Value: £343,933

Jardine Matheson (Singapore) (JAR)
Director name: Lord Leach of Fairford
Amount purchased: 13,960 @ $31.55
Value: $440,410

Jardine Matheson (Singapore) (JAR)
Director name: Mr Henry Keswick
Amount purchased: 12,635 @ $31.55
Value: $398,609

Empresaria Group (EMR)
Director name: Mr Tony Martin
Amount purchased: 400,000 @ 96.00p
Value: £384,000


Top Director Sells

TUI Travel (TT.)
Director name: Mr Peter James Long
Amount sold: 828,096 @ 259.30p
Value: £2,147,253

Addax Petroleum (AXC)
Director name: Mr Jean Claude Gandur
Amount sold: 20,000 @ 2,559.19p
Value: £511,838

Addax Petroleum (AXC)
Director name: Mr Jean Claude Gandur
Amount sold: 20,000 @ 2,553.13p
Value: £510,626

Addax Petroleum (AXC)
Director name: Mr Jean Claude Gandur
Amount sold: 20,000 @ 2,553.03p
Value: £510,606

WH Smith (SMWH)
Director name: Ms Kate Swann
Amount sold: 230,000 @ 435.90p
Value: £1,002,570

Addax Petroleum (AXC)
Director name: Mr Jean Claude Gandur
Amount sold: 20,000 @ 2,547.32p
Value: £509,464

Addax Petroleum (AXC)
Director name: Mr Jean Claude Gandur
Amount sold: 20,000 @ 2,544.01p
Value: £508,802

Addax Petroleum (AXC)
Director name: Mr Stephen Paul de Heinrich
Amount sold: 10,000 @ 2,558.42p
Value: £255,842

Addax Petroleum (AXC)
Director name: Mr Stephen Paul de Heinrich
Amount sold: 10,000 @ 2,551.30p
Value: £255,130

James Halstead (JHD)
Director name: Mr Mark Halstead
Amount sold: 30,000 @ 555.00p
Value: £166,500

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