Lonmin

Infobox_Company
company_name = Lonmin plc
company_
company_type = Public
company_slogan =
foundation = 1909
location = London, England, UK
key_people = Sir John Craven (Chairman)
Brad Mills (CEO)
Alistair Ross (President)
num_employees = 24,122 (2007)
industry = Mining
products = Platinum Group Metals
revenue = $1,941 million USD (2007)
operating_income=$796 million USD (2007)
net_income = $408 million USD (2007)
homepage = [http://www.lonmin.com/ www.lonmin.com]

Lonmin plc (lse|LMI, jse|LOLMI), formerly Lonrho plc, is a producer of platinum group metals operating in the Bushveld Complex of South Africa. It is a constituent of the FTSE 100 Index.

History

The Company was incorporated in the United Kingdom on 13 May 1909 as the London and Rhodesian Mining Company Limited.

Businessman Tiny Rowland was recruited as chief executive in 1962. [http://news.bbc.co.uk/1/hi/uk/139614.stm Tiny in name, not in nature] BBC News, July 1998] For many years during the second half of the twentieth century it was frequently in the news, not only due to the politically-sensitive part of the world in which it had mining businesses, but also – as it strove to become a conglomerate not wholly dependent on these businesses – in a number of takeover battles, most notably for the Harrods of Knightsbridge department store.

In 1968, Lonrho acquired Ashanti Goldfields Corporation, a gold mining business in Ghana. [cite news
title=Ashanti-Lonrho: terms agreed
work=The Times
author=Berry Ritchie
date=October 24th 1968] The former Conservative minister Duncan Sandys, a director of Ashanti, became Lonrho's chairman in 1972. [cite book
title=Duncan Sandys
work=Who was Who
publisher=A&C Black
date=January 2007]

During the 80s, Lonrho entered the British newspaper market, buying the Sunday "Observer" in 1981 [http://www.guardian.co.uk/newsroom/story/0,,735573,00.html Observer text timeline] ] and the newly launched daily "Today" in 1986. [ [http://query.nytimes.com/gst/fullpage.html?res=940DEED81138F932A25752C1A96E948260&sec=&spon=&pagewanted=all A second life!] ] "Today" was sold to News International the following year, [ [http://ketupa.net/murdoch2.htm Ketupa: Murdoch] ] while the Guardian Media Group bought the "Observer" in 1993.

Sir Angus Ogilvy, married to a member of the British royal family (Princess Alexandra of Kent), was a Lonrho director and this increased media interest in the company's affairs. Ogilvy's career ended when Lonrho was involved in a sanctions-busting scandal concerning trade with Rhodesia. Prime Minister, Edward Heath, criticised the company, describing it in the House of Commons in 1973 as "an unpleasant and unacceptable face of capitalism." [ [http://news.bbc.co.uk/1/hi/world/africa/139596.stm Tiny Rowland: African Giant] BBC News, July 1998]

Tiny Rowland was finally ejected from Lonrho in October 1993 after a boardroom tussle with director Dieter Bock. However, Rowland's parting shot was to get the board to appoint his nominee, Sir John Leahy, to succeed him as chairman. [ [http://www.iht.com/articles/1993/10/20/lonrho.php Boardroom rebellion demotes Tiny Rowland] ]

Two months before Rowland's death (on July 26, 1998) the assets of Lonrho were demerged. Two publicly listed companies, Lonrho plc and Lonrho Africa plc were created – the former retaining all the non-African businesses and mining assets. [ [http://www.btimes.co.za/98/0517/comp/comp5.htm Lonhro Africa keen not to lose its flair] ] In 1999 Lonrho plc was renamed as Lonmin plc and a new era as a focused mining company began. Since then it has divested itself of all non-core assets.

Operations

The Company is a producer of platinum group metals operating mainly in the Bushveld Complex in South Africa. It has two mines: [ [http://www.lonmin.com/mainnotop.aspx?pageId=19 Current operations] ]
* Marikana mine
* Limpopo mine

enior management

The Chief Executive from 1962 to 1994 was Tiny Rowland. Rowland was succeeded by Nicholas J Morrell who was at the helm until November 2000 when G Edward Haslem took over. Bradford Mills was appointed in March 2004.

References

External links

* [http://news.bbc.co.uk/1/hi/uk/139598.stm Tiny Rowland dies at 80]
* [http://www.lonmin.com/ Official site]