Latest
 
  • All Share : 51141.14
    UP 2.11%
    Top40 - (Tradeable) : 45107.14
    UP 2.18%
    Financial 15 : 14350.63
    UP 3.04%
    Industrial 25 : 69852.35
    UP 2.06%
    Resource 10 : 29468.55
    UP 1.42%

  • ZAR/USD : 15.1849
    DOWN -0.01%
    ZAR/GBP : 20.1672
    DOWN -0.20%
    ZAR/EUR : 16.7768
    DOWN -0.14%
    ZAR/JPY : 0.1479
    UP 0.41%
    ZAR/AUD : 11.1982
    UP 0.11%

  • Gold US$/oz : 1318.1
    UP 0.50%
    Platinum US$/oz : 980
    UP 0.20%
    Silver US$/oz : 17.85
    UP 0.56%
    Palladium US$/oz : 572
    UP 0.88%
    Brent Crude : 48.81
    UP 0.23%

  • All data is delayed by 15 min. Data supplied by Profile Data
    Hover cursor over this ticker to pause.

Wed Jun 29 03:51:41 SAST 2016

Lonmin CEO Ian Farmer steps down due to illness

Reuters | 28 December, 2012 09:57
Lonmin CEO Ian Farmer
Image by: Robert Tshabalala

South African miner Lonmin said its chief executive Ian Farmer had stepped down after serious illness and the platinum producer had started a search for his replacement.

Chief Financial Officer Simon Scott would continue to fill the role until a replacement was found, Lonmin said in a statement on Friday. Scott had ruled himself out of the job on a permanent basis, it added.

Farmer was admitted to hospital in August, coinciding with a wave of unrest at the group’s Marikana mine that left 46 people dead and paralysed operations.

The strikes increased pressure on a group already being squeezed by high costs and weak platinum prices, and it needed to tap investors, led by largest shareholder Xstrata, for $817 million last month to avoid breaching lending terms.

SHARE YOUR OPINION

If you have an opinion you would like to share on this article, please send us an e-mail to the Times LIVE iLIVE team. In the mean time, click here to view the Times LIVE iLIVE section.