Lonmin Plc (LMI.L), the world's third-biggest platinum producer, has reached an agreement with unions on up to 5,500 job cuts at its Marikana and Limpopo operations in South Africa, it said on Tuesday.
Lonmin said it would cut up to 4,000 full-time employees or contractors at its Marikana mine, of which 300 are expected to be management.
At Limpopo, the Baobab shaft will be put under maintenance as soon as possible, with around 1,500 full-time jobs expected to be cut.
The final number of workers affected will be confirmed once restructuring programmes at the two operations have been completed, the company said.
With the current backdrop of challenging economic conditions, these agreements are an important milestone in our objective of restructuring the company, Chief Executive Ian Farmer said in the statement.
The company said it is in talks with Marikana employees to complete the down-sizing.
Lonmin also repeated it still expects to achieve platinum sales of around 700,000 ounces from a full year's production at Marikana. The company will publish interim results on May 11.
(Reporting by Agnieszka Flak; Editing by Kim Coghill)
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