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Lonmin looks for more cuts

South Africa-focused platinum mine Lonmin (LN:LMI) is planning another assault on its cost base as adverse macroeconomic conditions and inflationary cost pressures continue to bite into its bottom line.

Lonmin looks for more cuts Lonmin looks for more cuts Lonmin looks for more cuts Lonmin looks for more cuts Lonmin looks for more cuts

Lonmin intends to sell off 500,000 ounces of excess platinum production capacity

The company reported positive quarterly production results a few weeks back, which saw mining performance improve, unit costs come down and more cash generated.