Lonmin posts pre-tax loss of $326m
Last year the company showed a profit of $140m.
LONDON South Africas Lonmin met analysts forecasts with a $326 million annual pre-tax loss on Monday hurt by a five-month mining strike, but said a review it recently concluded highlighted opportunities to improve its performance.
Along with its peers in South Africa, Lonmin, the world's third-largest platinum producer, has been battered by labour unrest overs wages, rising costs and weak platinum prices.
The London-listed mining company posted a pre-tax loss of $326 million for the year to the end of September, compared with a profit of $140 million a year earlier and within a range of forecasts calling for a loss of $257 million to $565 million in a Reuters poll of five analysts.