150 Lonmin management jobs at stake

Platinum miner Lonmin said 150 positions are initially likely to go as part of a shake-up plan.

FILE: Mineworkers walk to a meeting point, at Lonmin's Marikana Mine. Picture: Taurai Maduna/EWN.

LONDON - South African platinum miner Lonmin said 150 positions are initially likely to go as part of a shake-up plan aimed at achieving a more sustainable business model after a tumultuous 2012.

Lonmin said on Thursday that it was consulting with its unions on a proposed new operating structure and that the 150 positions likely to be affected were expected to be at the management level.

The world's third-largest platinum producer raised $800 million last year to cut debt and finance its recovery after weeks of deadly strikes affected production and as it grapples with a weak platinum price and rising labour costs.