{"id":12148,"date":"2012-07-06T00:14:25","date_gmt":"2012-07-05T22:14:25","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/miner-lonmin-says-reviewing-spending-plans\/"},"modified":"2012-07-06T00:14:25","modified_gmt":"2012-07-05T22:14:25","slug":"miner-lonmin-says-reviewing-spending-plans","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/miner-lonmin-says-reviewing-spending-plans\/","title":{"rendered":"Miner Lonmin says reviewing spending plans"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">MARIKANA, South Africa, July 5<\/span> (Reuters) &#8211; Platinum miner<br \/>\nLonmin is reviewing its closely watched spending plans,<br \/>\nits head of mining said on Thursday, in the latest evidence that<br \/>\nshort-term pressures on the industry are hurting companies&#8217;<br \/>\nefforts to secure future production.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Lonmin, the world&#8217;s third-largest platinum producer, has so<br \/>\nfar stuck to its plans for capital expenditure, which is key to<br \/>\nits aim of ramping up growth shafts to bring down the overall<br \/>\ncost of producing an ounce of platinum.<\/p>\n<p><span><\/span><\/p>\n<p>It is still expecting to spend $450 million in 2012 and<br \/>\nroughly the same next year, despite weak demand, cost pressures<br \/>\nand safety stoppages imposed by governments &#8211; but that could<br \/>\nchange, it said.<\/p>\n<p><span><\/span><\/p>\n<p>Mark Munroe, head of mining for Lonmin, said during a<br \/>\npresentation at Lonmin&#8217;s Marikana operations that the company<br \/>\nwas &#8220;actively looking at options&#8221;.<\/p>\n<p><span><\/span><\/p>\n<p>Earlier this week, rival Aquarius Platinum said it<br \/>\nplanned to limit mining activities to concentrate on conserving<br \/>\ncash and guarding its reserves until economic circumstances<br \/>\nchanged. Aquarius said on Wednesday it would suspend all<br \/>\nnon-essential capital expenditure.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MARIKANA, South Africa, July 5 (Reuters) &#8211; Platinum miner Lonmin is reviewing its closely watched spending plans, its head of mining said on Thursday, in the latest evidence that short-term pressures on the industry are hurting companies&#8217; efforts to secure future production. Lonmin, the world&#8217;s third-largest platinum producer, has so far stuck to its plans [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12148","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12148"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12148\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}