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- Title
Third-largest platinum miner turns down Xstrata bid as"undervalued.".
- Abstract
The article reports that platinum producer Lonmin has turned down the 10 billion U.S. dollar offer of mining giant Xstrata. Lonmin describes the bid as underestimation of the company's unique assets. Xstrata said that it could help revive the fortunes of Lonmim. The mining firm cites Lonmim's rapid mechanization drive as the contributor for downgrading its production forecast. Lonmim's industrial operations in South Africa have been affected by the power-generating shortfalls in the country in 2009.
- Subjects
SOUTH Africa; LONMIN PLC; U.S. dollar; XSTRATA PLC; BUSINESS forecasting
- Publication
TCE: The Chemical Engineer, 2008, Issue 807, p5
- ISSN
0302-0797
- Publication type
Article