- 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 ofSouth Africa . It is a constituent of theFTSE 100 Index .History
The Company was incorporated in the
United Kingdom on13 May 1909 as theLondon andRhodesia n 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 theHarrods ofKnightsbridge department store.In 1968, Lonrho acquired
Ashanti Goldfields Corporation , a gold mining business inGhana . [cite news
title=Ashanti-Lonrho: terms agreed
work=The Times
author=Berry Ritchie
date=October 24th 1968] The former Conservative ministerDuncan 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 theGuardian 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 inSouth Africa . It has two mines: [ [http://www.lonmin.com/mainnotop.aspx?pageId=19 Current operations] ]
* Marikana mine
* Limpopo mineenior 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]
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