{"id":13642,"date":"2012-08-19T02:57:28","date_gmt":"2012-08-19T00:57:28","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/lonmin-mulls-1bln-rights-issue-backed-by-xstrata-paper\/"},"modified":"2012-08-19T02:57:28","modified_gmt":"2012-08-19T00:57:28","slug":"lonmin-mulls-1bln-rights-issue-backed-by-xstrata-paper","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/lonmin-mulls-1bln-rights-issue-backed-by-xstrata-paper\/","title":{"rendered":"Lonmin mulls $1bln rights issue backed by Xstrata-paper"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Aug 18 (Reuters) &#8211; Platinum miner Lonmin is<br \/>\nconsidering a $1 billion rights issue starting as early as next<br \/>\nmonth to recoup losses following the closure of its Marikana<br \/>\nmine in South Africa where 34 workers were killed, the Sunday<br \/>\nTimes reported.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Lonmin shareholder Xstrata had signalled it was<br \/>\nwilling to cover its part of the fundraising, the newspaper<br \/>\nsaid, citing sources close to the situation.<\/p>\n<p><span><\/span><\/p>\n<p>Lonmin was likely to ask for leniency in loan repayments<br \/>\nfrom its bank and reduce its spending to deal with spiralling<br \/>\ndebt before the end of its financial year next month, the paper<br \/>\nadded.<\/p>\n<p><span><\/span><\/p>\n<p>The London-listed company was forced to stop operations at<br \/>\nits biggest mine this week after South African police opened<br \/>\nfire on striking miners armed with machetes and sticks on<br \/>\nFriday.<\/p>\n<p><span><\/span><\/p>\n<p>It was Africa&#8217;s bloodiest security operation since the end<br \/>\nof apartheid.<\/p>\n<p><span><\/span><\/p>\n<p>The company is also under pressure from falling platinum<br \/>\nprices due to a collapse in demand from European carmakers.<\/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>LONDON Aug 18 (Reuters) &#8211; Platinum miner Lonmin is considering a $1 billion rights issue starting as early as next month to recoup losses following the closure of its Marikana mine in South Africa where 34 workers were killed, the Sunday Times reported. Lonmin shareholder Xstrata had signalled it was willing to cover its part [&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-13642","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\/13642","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=13642"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13642\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}