Lonmin PLC UK based :."Storming" the Local Companies the UK style

Yesterday 16/8/2012 we were all overwhelmed by the UK government threats towards the Ecuadorian Embassy in London.Those threats constitute a war act against another nation which,by the way,committed no crime but to provide asylum to a persecuted person as all civilized nations would do.Yesterday the UK based mining company Lonmin PLC  with the help of the local police,killed 34 workers who were on strike which is one more NON NEGOTIABLE right of any human being(since animals can’t work)

Yesterday UK government proved that it doesn’t give a damn about human life,human rights,laws and international treaties that IT had signed at first place


Comments are welcome,trolling isn’t,thank you


Here is the company’s profile. Enjoy.


Company overview
Lonmin (formerly Lonrho PLC) is the world’s third largest primary producer of Platinum Group Metals. The group operates in the Bushveld Complex of South Africa. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. The company was incorporated in the United Kingdom on 13 May 1909 as the London and Rhodesian Mining Company Limited. On 26 July 2008 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. 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.
HL Comment (14 November 2011)
London headquartered Lonmin, the world’s third-largest platinum producer announced its final results for the year ended 30 September earlier today, 14 November. A strong performance was registered by the group with platinum sales totalling 721,000 ounces, meeting its 2011 sales target. This was despite a strike at its Karee operations that forced the company to cut output targets and drive up unit costs. The outcome saw Lonmin dismiss 9,000 workers. Capital expenditure to support the future growth of the business was $410 million in the 2011 financial year. Expenditure in 2012 is planned at around $450 million to enable the miner to develop sufficient ore reserves to help attain its long term production target of 950,000 ounces of platinum per year. Revenues climbed to $1.99 billion, while underlying profit before tax was up 32.9% to $315 million. Both figures were at the higher end of market forecasts. Management expressed caution and market unpredictability in the short term outlook with the objective to being prepared to respond to more favourable conditions in the medium and longer term.

Negative Points:

The group’s operations and future projects are based in South Africa. The company is subsequently exposed to government and regulatory-related risks in South Africa.
Lonmin is a single commodity company and therefore displays greater earnings risk than a diversified metals and mining company.
The miner’s safety record has been in the spotlight with 6 fatalities recorded since the beginning of its 2011 financial year.
Operational disruption caused by workforce issues presented challenges for the group. During the year, ten production days were lost because of an illegal strike at its Karee operations.

Positive Points:

Lonmin targets sales of 750,000 platinum ounces in 2012, with the longer term goal to achieve its optimal capacity of 950,000 platinum ounces.
Platinum, besides being universally used in jewellery, is also used in catalytic converters that cut pollution from car exhausts.
The board recommended a final dividend of 15 cents per share, unchanged from last year.
Xstrata PLC, the global diversified mining group retained a 24.9% stake in Lonmin, following a failed takeover bid in 2008.

On balance, market consensus indicates a hold. Read the rest of the article


About irmedeaca

One response to “Lonmin PLC UK based :."Storming" the Local Companies the UK style

  • Paul Hunter Jones

    I stumbled onto to his site will researching the formation of Lonmin Plc. I am glad that my search brought me here. Though this blog’s political orientation and mine do not merge, I am able to appreciate some of the posts’ well thought-out arguments.

    The South African miners at the Lonmin platinum mine probably would not appreciate this post’s attempts to link their cause with the plight of WikiLeaks founder Julian Assange. The miners are caught-up in a struggle between two unions and decades of broken governmental promises to improve the lot of the average South African. The brutal system of Apartheid ended decades ago. Still the ANC has failed to deliver any real improvement in universal employment, better services for the people or instilling hope for a brighter future. We need not debate the merit of the breakaway union’s demands for a wage increase, triple the workers’ present pay, ; it is save to conclude that this demand will not be met. The violent confrontation and lost of life on the top of the mountain can only be characterized as tragic and disappointing. The UK government played no roll in this incident.

    On the other hand Mr. Assange has betrayed the confidence of his followers, business associates, the vaunted WikiLeaks organization and his own lofty libertarian principles. For over a year he abused the English legal system by fighting extradition on an Interpol warrant to appear in Sweden on rape and sexual molestation charges. The English taxpayer is left with the footing the legal bill fight. Though he was freed on bond, which was put-up by supporters, he forfeited all of their money in display of selfishness. His WikiLeaks organization is gasping for its financial breath; the questions is being asked-Mr. Assange where has millions in donations gone? The world will not be surprised to learn that Mr. Assange’s lavish lifestyle was paid for by his misappropriation of WikiLeak’s funds. Imagine the South African worker’ revulsion of knowing that this post compared their noble cause with the plight of wanted man who stole from his own organization.

    The British government has every right to arrest Mr. Assange the moment he leaves the Ecuadorian embassy. This is a diplomatic standoff that Ecuador should have avoided and cannot win.

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