Lonmin
| Lonmin plc
|
|
|---|---|
 |
|
| legal form | plc |
| founding | May 13, 1909 |
| resolution | June 10, 2019 |
| Seat | London , UK |
| management | Ben Magara, CEO |
| Number of employees | 23,142 |
| sales | 1,345,000,000 USD |
| Branch | Mining ( platinum ) |
| As of September 30, 2018 | |
Lonmin plc was a British mining company based in London . It was created after a split from the former Lonrho company . In June 2019 the company was taken over by Sibanye-Stillwater . The company was listed on the London Stock Exchange in the FTSE 250 and in the JSETop40 of the Johannesburg Stock Exchange .
Lonmin operates several mines in the South African province of North West , where it uses deposits in the Bushveld complex , and is now the third largest platinum producer in the world . According to the 2012 Annual Report, the largest customers are BASF and Mitsubishi .
history
On May 13, 1909, the London and Rhodesian Mining Company Limited (Lonrho) was founded. The company hit the headlines from 1985 when it was defeated by the Egyptian entrepreneur and billionaire Mohamed Al-Fayed and his younger brother in an attempt to take over the renowned London department store Harrods . At that time (from 1962 to 1994) Lonrho was led by the multimillionaire Tiny Rowland , who turned the takeover battle into a decades-long personal campaign against his former friend and business partner Mohamed Al-Fayed. Rowland led another year-long feud against his former Lonrho co-owner Dieter Bock , who had pushed him out of the company.
At times the company was listed on the London Stock Exchange in the FTSE 100.
South African miners strike 2012
Some of the miners at the Marikana platinum mine went on strike for higher wages and better working conditions. On August 13, 2012, two policemen were killed with machetes, followed by an exchange of fire with the police, in which six strikers were killed. In the Western Platinum Mine , another Lonmin mine, the strikers "hacked to death" two guards and burned two others. Two days later, on August 16, police fired automatic weapons at striking workers; 34 strikers were killed. According to eyewitness reports, the police opened fire first; According to witnesses, a large number of the victims were followed by the police and shot from behind.
Falling platinum price in 2015
In July 2015, the platinum price was lower than it had been since the beginning of 2010. Lonmin announced that it would cut around 6,000 jobs from its 38,000 jobs in South Africa and close or temporarily shut down several mines. In June 2015, unions announced that they would respond to mass layoffs with strikes. Eventually, 5,183 jobs were cut through the payment of transitional allowances or early retirement.
Individual evidence
- ↑ Management Profiles: Executive Directors , accessed January 2, 2015.
- ↑ a b Annual Report 2018 , accessed on August 15, 2019.
- ↑ History of the Lonrho company ( Memento of the original from December 8, 2014 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. on www.lonrho.com (English)
- ↑ Sibanye is now the proud owner of Lonmin , at www.businesslive.co.za , accessed August 15, 2019
- ↑ Stefan Buchen: BASF - The Platinum Complex. The time 19/2016 from April 28, 2016, accessed on May 15, 2016.
- ^ The Guardian : Platinum mine shut down after deadly union clashes . August 14, 2012, accessed September 9, 2012.
- ↑ BBC World News on August 13, 2012 : South African platinum mine union riots' kill nine , accessed on August 17, 2012 (English).
- ↑ Lonmin to cut jobs and operations as platinum price falls. (No longer available online.) In: ft.com . Formerly in the original ; accessed on June 17, 2017 (English). ( Page no longer available , search in web archives )
- ↑ Falling platinum prices: Lonmin group is cutting jobs. In: orf.at. July 23, 2015, accessed June 17, 2017 .
- ↑ Geoff Foster: Miner Lonmin's shares plummet 96% after dramatic fall in platinum price. In: thisismoney.co.uk. March 5, 2016, accessed June 17, 2017 .
