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Lonmin brings in finance specialist

Lonmin plc, the world’s third largest producer of platinum, has hired South African born Ron Series, a finance specialist, as an advisor as it continues to struggle with weak metals prices.

The company went from a net debt position of just US$29 million at the end of September 2014 to $282 million at the end of March, due to disruption caused by smelter shutdowns in the period.