1st Jul 2013 07:00
Lonmin Plc4 Grosvenor PlaceLondon SW1X 7YLUnited Kingdom
T: +44 (0)20 7201 6000F: +44 (0)20 7201 6100
www.lonmin.com
REGULATORY RELEASE
1 July 2013
Update on Management and Furnaces
Lonmin Plc ("the Company") is pleased to announce that further to its update to the market on 2 April 2013, its new Chief Executive Officer Ben Magara has formally assumed his role this morning (1 July 2013).
Roger Phillimore, the Chairman of Lonmin, said: "I would like to officially welcome Ben aboard. He brings with him a wealth of experience in mining. Ben is a proven leader at the highest levels and has an impressive record of delivery throughout his career. He is the right man to take Lonmin forward, building on our core operational strengths and proud safety record."
Mr Magara, 46, said: "I am delighted to be joining Lonmin at this important time. I will be spending my initial weeks getting to know the Company but what is already clear to me is that Lonmin has excellent assets, and I look forward, with my management team, to identifying opportunities to optimise value for all our stakeholders."
Lonmin also announces today that repairs to the Number Two furnace, which we previously announced (on 30 April 2013) had been taken offline after a fault with the roof, have been completed as planned. The first matte tap occurred on 25 June, 2013, and the furnace is now running at 5MW as the process of heating continues.
The Number One furnace had its first matte tap on 13 June 2013, also within the planned timeframe and is running at a stable rate.
- ENDS -
ENQUIRIES
Investors / Analysts:
Lonmin
Tanya Chikanza (Head of Investor Relations) | +27 11 218 8358 / +44 20 7201 6007 |
Ruli Diseko (Investor Relations Manager) | +27 11 218 8300
|
Media:
Cardew Group
James Clark | +44 20 7930 0777 |
Sue Vey | +27 72 644 9777 |
Brunswick - Johannesburg
Itumeleng Mahabane / Tim Schultz | +27 11 502 7400 / +27 82 309 2496 |
Notes to editors
Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is one of the world's largest primary producers of PGMs. These metals are essential for many industrial applications, especially catalytic converters for internal combustion engine emissions, as well as their widespread use in jewellery.
Lonmin's operations are situated in the Bushveld Complex in South Africa, where nearly 80% of known global PGM resources are found.
The Company creates value for shareholders through mining, refining and marketing PGMs and has a vertically integrated operational structure - from mine to market. Lonmin's mining operations extract ore from which the Process Division produces refined PGMs for delivery to customers. Underpinning the operations is the Shared Services function which provides high quality levels of support and infrastructure across the operations.
For further information please visit our website: http://www.lonmin.com
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