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...

South African political risk a worry – Moody’s, investors increasingly wary – Lonmin chair

As Moody’s investor service was saying in Johannesburg that the world is putting larger political-risk question marks over South Africa as an investment destination, Lonmin chairperson Roger Phillimore was telling Mining Weekly in Toronto of the...

Investors increasingly wary of SA - Lonmin chair

There is a “growing sense of concern” among London’s investment community over the risks of mining in South Africa, number-three platinum producer chairperson Roger Phillimore said in an interview on Thursday. “There is a growing...

SA by-product rights fiasco is a messy business

Oh, what a tangled web we weave. Another fiasco has erupted relating to South Africa’s Department of Mineral Resources (DMR), this time involving world number-three platinum producer Lonmin, and it could have other mining companies scrambling...

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...

Lonmin appoints Aveng’s Scott as CFO

Platinum major Lonmin has appointed Simon Scott, who is currently the financial director of the JSE-listed Aveng group, to take over as its CFO in November. Scott, who is a member of the South African Institute of Chartered Accountants, would...

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....

Platinum demand recovering slowly, deficit expected in 2011, says Lonmin CEO Farmer

Platinum demand levels were gradually improving and a slow firming in the platinum price could be seen, but no quick rebound was expected, Lonmin CEO Ian Farmer said last week. Farmer told Mining Weekly Online that the worst was behind the...

Lonmin appoints Phillimore as permanent chair

World number-three platinum producer Lonmin has appointed Roger Phillimore as chairperson on a permanent basis, succeeding Sir John Craven, who retired in January. Phillimore was appointed as interim chairperson when Craven stepped down, but was...

Lonmin output down 14%, chair retires

The world’s third-largest platinum producer, Lonmin, on Wednesday reported lower first quarter production figures, and announced that its chairperson, John Craven, would retire. Overall refined platinum production for the quarter ended December...