Lonmin warns on cash woes, urges shareholders to back Sibanye takeover
Lonmin Plc has been cutting spending to conserve cash and retain a positive balance sheet required by conditions of South Africa-based Sibanye's offer.
The southern African nation, which relies on hydropower for 85% of its electricity generation, is experiencing rolling blackouts amid an ongoing drought.
Copper boss Bold Baatar says Rio's goal of producing 1 million tonnes of the metal annually within the next five years will be achieved through organic growth.