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Lonmin granted mining right on Pandora joint venture

FTSE 250-listed platinum producer Lonmin has reported that its application for the conversion of an old order mining right to a new order mining right at its Pandora joint venture has been granted by the Department of Minerals and Resources.

FTSE 250-listed platinum producer Lonmin has reported that its application for the conversion of an old order mining right to a new order mining right at its Pandora joint venture has been granted by the Department of Minerals and Resources.

The mining right is in respect to platinum group metals and associated minerals including gold, chrome, silver, cobalt, nickel and copper.

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The decision gives Lonmin and its joint venture partners security of tenure at Pandora.

Lonmin is one of the world's largest primary producers of Platinum group metals which have industrial applications in catalytic converters and are popular in jewellery. The group's operations are situated in the Bushveld Complex in South Africa.

Lonmin's share price was down 1.66% to 331.30p at 09:12 on Monday.

MF

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