South African platinum miner Lonmin has secured funding of $50m for the Bulk Tailings Treatment (BTT) project.

The funding was secured through a particular project finance metal streaming arrangement.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The first part of project funding of $9m has been secured.

Following receipt of the first tranche, work has started on the project.

"The BTT project is part of our strategy to focus on low-cost ounces to maximise our cash position." 

Lonmin chief executive Ben Magara said: "The BTT project is part of our strategy to focus on low-cost ounces to maximise our cash position and create value for all our stakeholders.”

The BTT project entails re-mining of Lonmin’s Easterns Tailings Dam.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

This  project involves reprocessing 26 million tonnes of Tailings material at a rate of 300,000t every month.

Lonmin expects to commission and ramp-up to full production during the 2018 financial year.

Once the project achieves a steady-state, it will produce about 29,000oz of platinum per year, at a yield of 0.5g per tonne.

This project is part of Lonmin’s business plan and is expected to generate the lowest cost ounces in the Lonmin portfolio.