Lonmin gives Cyril a fair crack at the platinum mining whip

The world and South Africa’s third-largest platinum miner Lonmin is giving Cyril Ramaphosa’s Shanduka a fair crack at the platinum mining whip. Up to now, Lonmin’s dormant Limpopo assets have been something of a letdown. If Shanduka can...

Workers benefitting from the Incwala BEE transaction

Over 26 000 employees would benefit from the sale of the Lonplats Employee Masakhane (LEM) Trust’s indirect shareholding in platinum miner Lonmin to Shanduka Resources, the LSE- and JSE-listed miner said on Friday. The qualifying members, who...

Ramaphosa joins Lonmin board as Shanduka takes control of Incwala

South African business magnate Cyril Ramaphosa joined the board of platinum-miner Lonmin as a nonexecutive director on Tuesday, after Shanduka Resources took majority control of Incwala Resources. Ramaphosa's Shanduka now owned 50,03% of Lonmin's...

Arne Frandsen

Position: CEO, Pallinghurst Resources, since 2006; partner, Pallinghurst group; director of Platmin, Boynton Platinum and Faberge Main activity of the company: Mining Date and place of birth: December 22, 1966, Denmark

Shanduka takes control of Incwala in R2,8bn deal

Black-owned and controlled investment holding company Shanduka announced on Monday that it would acquire a majority stake of 50,03% in Lonmin's empowerment partner Incwala Resources in a R2,8-billion transaction. Incwala holds an 18% interest in...

Lonmin revenues slump 50%, no dividend for second year

Platinum miner Lonmin's revenue slumped 50%-plus in the year to September 30 and the company decided not to declare a final dividend for the second year in a row. The flagship Marikana platinum mine in Rustenburg came in 2% below guidance....

Radical change needed to rightsize high cost structure – Lonmin

The London- and JSE-listed Lonmin Platinum is the first and the smallest of the world’s three platinum majors to take the scalpel to costs in the wake of the collapse of the platinum price. New Lonmin Platinum CEO Ian Farmer tells Mining Weekly...

Radical change needed to rightsize high cost structure – Lonmin Platinum

The London- and JSE-listed Lonmin Platinum is the first and the smallest of the world’s three platinum majors to take the scalpel to costs in the wake of the collapse of the platinum price. New Lonmin Platinum CEO Ian Farmer tells Mining Weekly...

Vulnerable Lonmin BEE Incwala mulling platinum downturn’s depth and duration

Lonmin’s vulnerable black economic empowerment partner Incwala Resources was mulling the depth and duration of platinum’s downturn and studying debt structures and implications, Incwala chairperson Mutle Mogase said on Tuesday. Mogase, who is...

Now Lonmin says 1 500 Limpopo jobs at risk, flags 2009 BEE vulnerability

The world's third-largest platinum producer, Lonmin Platinum, on Monday formally announced the possible reduction of another 1 500 jobs, this time at its "unprofitable" Limpopo platinum operation, following Friday's announcement that 4 000 jobs...

BEE levels the employment playing field

South Africa’s mining industry is one of the country’s major employers, with more than 458 600 people working in the sector in May 2007, or 3,7% of the of the total economically-active population, reports Creamer Media’s Research Channel...

Incwala CEO Mbatha quits, acting chief says ‘back to drawing board’

It's "back to the drawing board" for black-owned Incwala Resources, new CEO Ronnie Ntuli said on Monday, after having replaced Zanele Mbatha. Ntuli, who was previously chairperson of the group, declined to comment on the reasons...