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Last 681.00
Change Today -19.00 / -2.71%
Volume 2.4M
LON On Other Exchanges
As of 12:30 PM 08/27/15 All times are local (Market data is delayed by at least 15 minutes).

lonmin plc (LON) Snapshot

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52 Week High
09/1/14 - $4,199
52 Week Low
08/19/15 - $531.00
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lonmin plc (LON) Details

Lonmin Plc discovers, extracts, refines, and markets platinum group metals (PGM) in South Africa, the Americas, Asia, and Europe. The company operates through three segments: PGM Operations, Evaluation, and Exploration. It explores for platinum, palladium, rhodium, iridium, ruthenium, and gold, as well as chrome, nickel, copper, and cobalt deposits. The company’s flagship property is the Marikana mine located on the Western Limb of the Bushveld igneous complex in South Africa. Its metals are used for various industrial applications, such as catalytic converters for internal combustion engine emissions, as well as for use in jewelry applications. The company was founded in 1909 and is headquartered in Johannesburg, South Africa.

28,276 Employees
Last Reported Date: 12/15/14
Founded in 1909

lonmin plc (LON) Top Compensated Officers

Chief Executive Officer, Executive Director, ...
Total Annual Compensation: 462.2K GBP
Chief Financial Officer and Executive Directo...
Total Annual Compensation: 334.7K GBP
Compensation as of Fiscal Year 2014.

lonmin plc (LON) Key Developments

Lonmin Plc to Close Hossy and Newman Shafts, Cut Jobs

Lonmin plc announced that its board decided to approve decisive additional actions to reduce high cost production in an oversupplied market by carrying out the orderly closure of Hossy and Newman shafts. A total of 6,000 employees including contractors are likely to be affected by these closures. This figure includes those who have already applied for the voluntary separation packages it announced in May 2015. It will be achieved by stopping development and capital work. Instead, only the immediately available ore reserves will be utilised, reducing the overall costs of production and enhancing cash generation and profitability. In addition, the Board has decided to put on care and maintenance a number of Generation 1 shafts, some of which are currently managed by contractors, namely W1, E1 and 1B shaft. This will include reducing the associated active concentrator capacity.

Lonmin plc Reports Unaudited Production Results for the Third Quarter and Nine Months Ended June 30, 2015; Provides Production Guidance for the Full Year 2015

Lonmin plc reported unaudited production results for the third quarter and nine months ended June 30, 2015. The company reported that total tonnes milled in the quarter of 2.8 million tonnes were 2.4 million tonnes higher than the prior year period. Total Platinum metal-in-concentrate for the quarter at 172,672 saleable ounces was 149,054 ounces higher than the prior year period. Total refined Platinum production for the quarter of 241,170 ounces was 204,915 ounces higher than the prior year period. Platinum sales for the quarter of 231,778 ounces were in-line with refined production and on schedule. This was an increase of 206,039 ounces on the prior year period. PGM sales of 437,160 ounces were up 357,469 ounces. Mining and milling performance in the nine months of the 2015 financial year increased significantly on the prior year period which was impacted by the five month strike. Total tonnes mined during the first nine months of 8.3 million, showed an increase of 4.7 million when compared to the strike impacted prior year period. Total Platinum metal-in-concentrate for the period under review at 554,657 saleable ounces was the higher since 2012. Total refined production for the nine month period of 503,473 ounces of saleable Platinum, 71.6% higher than nine months of 2014. Platinum sales for the nine months were 497,719 ounces and 951,907 PGM ounces. The fourth quarter production has started well and absent any material Section 54 safety stoppages the company expects to achieve Platinum saleable metal-in-concentrate of 750,000 platinum ounces and sales guidance of 730,000 platinum ounces for the year.

Lonmin plc Appoints Ben Moolman as Executive Director

The Board of Lonmin Plc announced the appointment of Ben Moolman, the current Chief Operating Officer, to the Board as an Executive Director with immediate effect. Before re-joining Lonmin in August 2014 to head the newly created Business Support Office, Ben worked at Glencore Xstrata where he headed up their Platinum Division with responsibility for the value chain across all mining and processing operations. Prior to this, in his previous service to Lonmin, he served in a variety of operational management positions, including Vice President Mining.


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