Latest
 
  • All Share : 53638.04
    UP 0.65%
    Top40 - (Tradeable) : 46788.32
    UP 0.52%
    Financial 15 : 15273.87
    UP 0.22%
    Industrial 25 : 71872.25
    UP 0.14%
    Resource 10 : 31624.94
    UP 2.62%

  • ZAR/USD : 14.3401
    DOWN -0.20%
    ZAR/GBP : 18.811
    DOWN -0.15%
    ZAR/EUR : 15.7654
    DOWN -0.11%
    ZAR/JPY : 0.136
    DOWN -0.51%
    ZAR/AUD : 10.7875
    UP 0.11%

  • Gold US$/oz : 1317
    DOWN -0.20%
    Platinum US$/oz : 1089
    DOWN -0.27%
    Silver US$/oz : 19.54
    DOWN -0.20%
    Palladium US$/oz : 686
    UNCHANGED0.00%
    Brent Crude : 44.72
    UP 0.25%

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

Wed Jul 27 03:52:28 CAT 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.