At this very early stage it is estimated that approximately 1,500 permanent Lonmin employees may be affected.
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Lonmin is committed to constructively engaging with unions in the process to try to minimise the job losses
The planned retrenchments are expected to directly affect more than 15% of Lonmin's total workforce
The trade union Solidarity today received the official Section 189 notice from platinum producer Lonmin
Workers will demand that the company stops its retrenchment process, that Limpopo Lonmin be part of all processes and that Lonmin be fully transparent
the Booysendal asset (the real prize in Northam) offers a unique opportunity to gain surface access to PGMs at low capital and low operating cost. Booysendal is almost as big a resource as the current Impala Mine, but accessible from surface. Impala needs this optionally if it wants to beat Anglo Platinum and Lonmin in a lower metal price environment
Workers will demand that the company stops its retrenchment process, that Limpopo Lonmin be part of all processes and that Lonmin be fully transparent
rand-based gross operating costs for the year to increase at a rate well below South African inflation
At Pandora we successfully completed a pre-feasibility study on a standalone project looking at the development of a 2.9 million tonne (mt) per annum operation using a hybrid mining method. The Pandora project will continue to be progressed on a self-funded basis with our joint venture partners.
we have failed to significantly improve productivity from our two fully mechanised shafts and, given the resultant high cost of production, we have taken the decision to change our approach
It is crucial that, as CEO, I am close to our operations and I will therefore spend around half of my time in South Africa.