Company Data
| Last traded |
R95.65 |
| Change |
R-1.36 |
| % Change |
-1.40% |
| Cumulative volume |
2.90m |
| Market cap |
R19.38bn |
Related Articles
Top Stories
May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 25 2012 19:13
Uncertainty over the future of the euro zone returned to push the rand down against the dollar.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - The Lonmin [JSE:LON] mining group was on Wednesday granted rights to sell the byproducts of its platinum mining operations.
It received a letter from the department of minerals resources confirming it could resume selling copper, nickel, chrome and other minerals, the company said in a statement.
"The DMR has further confirmed that all of Lonmin's Section 102 applications have been approved, thereby clarifying Lonmin's right to mine and dispose of associated minerals at all its properties other than the small area which is subject to the prospecting right issued to Keysha Investments 220 (Pty) Ltd, a Holgoun group company."
The department said on Tuesday it gave the prospecting rights for the byproducts of Lonmin's platinum operation to Keysha after Lonmin in December last year withdrew its application for the rights to sell them.
Wednesday's letter rescinded an instruction from the department, dated August 3, requiring Lonmin to refrain from selling nickel, copper, chrome and any other minerals, except for platinum group metals.
Keysha is part of the Holgoun group, owned by former public enterprises director general Dr Sivi Gounden and his wife Vanessa.
Gounden was a director at Lonmin until October last year.
Lonmin said the disputed prospecting right covered a small area of its property. Sales from the byproducts of its operation amounted to approximately $11m (currently about R80.1m) in 2009.
Lonmin said it appealed against both Keysha's application for the prospecting rights in March last year and against the department's awarding of the rights to the company.
"Lonmin remains entitled to mine and dispose of the associated minerals mined from this area," the statement read.
- Sapa