BRITISH mining group Lonmin confirmed on Tuesday that it is discussing a merger with Ghanaian mining outfit Ashanti Goldfields, a tie-up that will create a new African precious metals giant. Lonmin said it already owned 32% of Ashanti and that talks “have been taking place for some time with a view to creating a leading precious metals group”. Lonmin, formerly known as Lonrho, is one of the world’s largest producers of platinum and also has gold and other mineral interests, while Ashanti produces two-thirds of Ghana’s gold output.