Output at Lonmin's Marikana mine had the potential to jump nearly 40 percent but the platinum producer would not unveil production targets until November, its chief executive said yesterday. Lonmin also planned to keep costs under control, Ian Farmer said. He launched a restructuring programme when he took over as chief executive last October, hoping to win back investors disappointed over missed production targets. He said a target of 1 million ounces of platinum a year for the mine was "not useful". - Reuters
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