Shares of South Africa based miner Lonmin jumped 6.11% after it reported an 18% fall in underlying first-half profit but kept its full-year guidance for platinum sales unchanged.
The world's third-largest platinum producer reported a pretax profit before exceptional items of $235 million (118 million pounds) in the six months ended March, with turnover down 11% to $631 million.
The miner said that the first half of its financial year was adversely impacted by the shutdown and subsequent rebuild of the Number One furnace.
"We have passed the point of having serious concerns about our furnace and have brought an additional capacity during that period,” Brad Mills, CEO of Lonmin told CNBC’s “Squawk Box Europe”.
Looking ahead, Lonmin continues to look at junior players in the sector and other consolidating opportunities.
“If we find something there that we think is particularly attractive we are prepared to move on it,” he added.
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