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