Lonmin shares hit nine-year low

REUTERS

Paramedics carry an injured man after protesting miners were shot outside the Lonmin mine in Rustenburg. Photo: Reuters

Johannesburg-listed shares of Lonmin extend losses, falling more than 7 percent and touching their lowest level in nine years after the death toll mounts at its South African mine mounts.

Police shot dead more than 30 striking miners on Thursday in Lonmin's Marikana mine.

The world's No.3 platinum producer says it has lost 15,000 ounces of platinum production due to the one-week long strike at its South African operations and that it was unlikely to meet its full-year production target of 750,000 ounces.

The shares, which fell more 7 percent on Thursday, are down a further 7.68 percent at 77.27 rand, their lowest level since May 2003.

Shares of Anglo American Platinum, the world's top platinum producer, are down 1.9 percent and those of Impala Platinum are 1 percent weaker. - Reuters