Joint Ventures
Luwumbu

IMX is diluting their interest in the Luwumbu project to 27%. Luwumbu is a PGE project, with a 12km strike length of mineralisation.

Lonmin has the right to earn 51% equity interest once they have produced an indicated JORC resource, and a further 19%  by taking the project through to a Bankable Feasibility Study. To achieve this, Lonmin must spend US$1.5m per annum and the BFS must be completed before 31 March 2009.

In 2007, Lonmin will spend US$4.2m and plans to complete 15,000m of diamond drilling at the Luwumbu project.