After violent labour strikes in August and September kicked off a wider worker revolt in South Africa, resulting in 40 employee fatalities, Lonmin 's (LMI) board of directors has come up with a strategy for the future.
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Dubbed the "Lonmin Renewal Plan", the company announced it will restructure its balance sheet, reduce capital spending and slow down the scheduled ramp up in platinum production. Pivotal to this strategy is an $800m (£500m) rights issue, which management says will enable the South African miner to pay down some of its considerable debts.