Virus-hit South African miners battle to return workers

Adjusted net earnings were $35 million, a 49% drop from $67 million in net earnings in the third quarter of 2017.

If approved, merger would create the world’s No.2 platinum producer as Lonmin is the world’s third-largest while Sibanye-Stillwater is the fourth.

The processing plant has been under consideration since at least 2014.

Implats plans to trim staff by about a third -- more than 13,000 jobs -- over two years at its Rustenburg platinum belt.

While prices remain stagnant and demand uncertain, the company is churning out more stones than at any other time in the past decade.

Under the deal, Lonmin will repay most of the loan by delivering platinum and palladium over a three year period to a subsidiary of Jiangxi Copper, China’s largest copper producer.

South Africa's National Union of Mineworkers (NUM) signs three-year wage deal with platinum producer Northam Platinum that secures wage hikes of more than double the inflation rate for its members.

Yet, capital expenditure for the sector recovered from the lowest levels in ten years to reflect a 19% increase.

New Mining Charter seeks to reduce uncertainty and boost investment in the sector.