Key Developments: Lonmin PLC (LMI.L)

LMI.L on London Stock Exchange

136.00GBp
20 Apr 2015
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Latest Key Developments (Source: Significant Developments)

Glencore PLC to divest 23.9 pct stake in Lonmin Plc
Wednesday, 11 Feb 2015 02:00am EST 

Glencore PLC:Says it intends during the H1 2015 to divest its non-core 23.9 pct stake in Lonmin Plc.Says it is currently proposed that the divestment in Lonmin will be implemented by way of a distribution in specie to Glencore shareholders.Says this distribution, currently representing c.$3 cents per Glencore share, will not impact Glencore’s approach towards its annual cash distribution consideration.  Full Article

Lonmin PLC completes BEE Transaction
Wednesday, 26 Nov 2014 04:00am EST 

Lonmin PLC:Completes three transactions which combined make up the remaining 8 pct of its Black Economic Empowerment.Completion of the royalty-for-equity swap transaction with the Bapo Ba Mogale Traditional Community.Establishment of the Lonplats Employees Share Ownership Trust (EST) which will acquire 3.8 pct of the ordinary share capital in Lonplats. Lonplats will implement a profit share scheme for the benefit of employees through this Trust.Establishment of the Lonplats Marikana Community Development Trust (CDT) which will acquire 0.9 pct of the ordinary shares in Lonplats for the benefit of specific communities residing in the western portion of Lonmin's Marikana operations.  Full Article

Lonmin PLC updates on appointment of Chairman
Tuesday, 22 Jul 2014 06:31am EDT 

Lonmin PLC:Says further to its announcement of March 30, Lonmin Plc announces that Board of Directors took the decision on July. 21 to confirm the appointment, with immediate effect, of Brian Beamish as Chairman of the Company.  Full Article

Lonmin PLC announces settlement of negotiations with AMCU
Tuesday, 24 Jun 2014 08:43am EDT 

Lonmin PLC:Says settlement of negotiations with Association of Mineworkers and Construction Union (AMCU) about wages and conditions of service.Employees are expected to return to work on June 25.Three-year agreement, which is effective from Oct. 01, 2013 to June 30, 2016, will end five-month strike, which has crippled South African platinum industry.  Full Article

Anglo American Platinum Limited, Impala Platinum Holdings Limited and Lonmin PLC advises mediation between the companies and AMCU under auspices of Labour Court
Friday, 23 May 2014 06:24am EDT 

Lonmin PLC:Anglo American Platinum Limited, Impala Platinum Holdings Limited and Lonmin Plc advise that facilitated mediation between the companies and the Association of Mineworkers and Construction Union (AMCU) are continuing under the auspices of the Labour Court.The producers and AMCU welcomed the initiative of the Labour Court to mediate a resolution of the protracted wage strike in the sector.The process is unfolding and the parties are encouraged that they share a common commitment to endeavour to resolve this dispute.  Full Article

Lonmin PLC does not declare dividend
Monday, 12 May 2014 02:00am EDT 

Lonmin PLC:No dividends were declared during the period ended March 31, 2014.  Full Article

Lonmin PLC update on protected strike action
Tuesday, 6 May 2014 02:00am EDT 

Lonmin PLC:Anglo American Platinum Limited (Amplats), Impala Platinum Holdings Limited (Implats) and Lonmin Plc (Lonmin) says, Association of Mineworkers and Construction Union (AMCU) informed companies of union’s decision to continue with strike which is entering its 15th week.  Full Article

Lonmin PLC announces appointment of interim Chairman
Monday, 31 Mar 2014 03:00am EDT 

Lonmin PLC:Roger Phillimore will retire as Chairman of the board and as a director at the close of business on April 30.Effective May 1, Brian Beamish, an independent non-executive director, will become Interim Chairman of the board of directors.  Full Article

Lonmin PLC Updates on protected strike action
Wednesday, 5 Mar 2014 06:55am EST 

Lonmin PLC:Updates on wages announced on Jan. 30.Says the Commission for Conciliation, Mediation and Arbitration (CCMA) has suspended the facilitated negotiations between Lonmin, Anglo American Platinum (Amplats), Impala Platinum Holdings Limited (Implats) and Association of Mineworkers and Construction Union (AMCU).CCMA has deemed the respective parties’ current position to be too far apart to warrant further mediation at this stage.Lonmin, Amplats and Implats have proposed a three year wage agreement on a guaranteed package with increases ranging from 7.5 to 9 pct, with the lowest paid employees receiving a 9 pct increase in year one.  Full Article

Lonmin PLC announces protected strike action
Thursday, 23 Jan 2014 05:12am EST 

Lonmin PLC:Confirms, that following the receipt of The Association of Mineworkers and Construction Union’s (AMCU) notice of intention to strike on Jan. 20, its AMCU member employees have Jan. 23, embarked upon protected strike action.Says the South African labour relations legislation no work – no pay principle applies.Says it remains committed to finding a positive and sustainable resolution to the dispute in the interests of all its stakeholders and management continues to engage at all levels to seek agreement.  Full Article

RPT-UPDATE 2-Trading cushions Glencore from commodity price plunge

LONDON, March 3 - A 15 percent rise in earnings at Glencore's trading division partially offset a hit last year from the slide in commodity prices, leaving the mining company's core profit just two percent lower.

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