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IPMI and Industry News: Industry News Archive

Lonmin Asset Sale Strategy

Tuesday, August 8, 2017  
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Lonmin may buy revenue – and time – in asset sale strategy

LONMIN states in its announcement on August 7 that proposals to sell the rights to some 500,000 ounces of platinum group metal (PGM) processing capacity, as well as brownfield and greenfield projects, are “subject to consents and approvals”. This is almost certain to mean its banking partners since part selling of assets alters carrying values and changes the limits of Lonmin’s debt covenants. - Miningmx 08/08/2017

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