DOCSLIB.ORG

Sustainable Development Report for the Year Ended 30 September 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sustainable Development Report for the Year Ended 30 September 2017 Sustainable Development Report for the year ended 30 September 2017 Lonmin Plc MAINTAINING MOMENTUM Our 2017 Sustainable Development Report MAINTAINING MOMENTUM 1 Lonmin at a Glance Material Focus Area: Community Relationships and 2 Approach to Reporting / 08 / Investment 64 Accountability and Governance Our Sustainability Approach and 66 Approach and Performance 01 / Material Matters 6 Our Sustainability Approach Material Focus Area: 7 Material Focus Areas Overview Managing Environmental Impacts 8 Our Sustainability Context 09 / and Opportunities 76 Accountability and Governance Corporate Profi le 78 Approach and Performance 02 / 12 Our Business Model 14 Our Output Material Focus Area: 15 Financial Value and Cash Distribution Constructive Engagement: Government, 10 / Regulatory and Other Stakeholders Our Strategy 94 Accountability and Governance 03 / 17 Our Strategic Approach 95 Approach and Performance 20 Key Performance Indicators Governance Leadership Overview 11 / 106 Governance for Sustainable Development 04 / 24 Letter from the Chief Executive Offi cer 109 Ethics and Human Rights 27 Joint Chair Statement 112 Assurance 113 Independent Assurance Provider’s Limited Assurance Report on Selected Sustainable Development Reporting According to Our Performance Information 05 / Material Focus Areas 116 Independent Assurance Provider’s Reasonable 30 Materiality Determination Process Assurance Report on Selected Sustainable Development Performance Information 32 Risk Analysis Material Focus Area: Annexures 06 / Employee Relationships 12 / 120 Key Performance Statistics 40 Accountability and Governance 122 Safety and Sustainable Development Policy 123 Lonmin Charter 42 Approach and Performance Material Focus Area: 07 / Safety and Health 54 Accountability and Governance 56 Approach and Performance Navigation Assurance provided by KPMG: Reasonable (✓RA), Limited (✓LA) Data impacted by the fi ve-month strike across the platinum industry in 2014. Comparative years in graphs 01 / 02 / 03 / 04 / 05 / 06 / Our Sustainability Approach Corporate Our Leadership Reporting According to Employee and Material Matters Profi le Strategy Overview Our Material Focus Areas Relationships Sustainable Development Report 2017 / 1 Lonmin at a Glance Lonmin Plc (Lonmin, the Group or Akanani Limpopo the Company) is a primary producer Marikana Rustenburg of Platinum Group Metals (PGMs). Johannesburg These metals are essential for many industrial applications, especially catalytic converters for internal combustion, engine emissions, as well as their widespread use in jewellery. Saleable by-products produced from PGM mining include gold, copper, nickel and chrome. South Africa Lonmin has a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. The Company’s operational head offi ce in South Africa, moved from Johannesburg to Marikana with effect from 25 January 2018. The Company also has a registered offi ce in London, United Kingdom. • 32,544 people work at the Company • 24,713 (76%) permanent employees and • Operations are based in the North West, 7,831 (24%) contractors Limpopo and Gauteng provinces of • Women constitute 9.1% of permanent South Africa employees • We continue with exploration at the • Platinum sales of 706,030 ounces Akanani Mining (Proprietary) Limited in FY2017 (Akanani) project to develop a viable • Shared business services offer operation administrative support to mining and • Exploration in South Africa and process operations internationally Who we are Where we operate Process operations Mining operations • Smelter, laboratory and a base metal • Our main operations are located at refi nery (BMR) at Marikana Marikana • Six operational concentrators, one on • Our core operations consist of 11 shafts care and maintenance at Marikana which and inclines is being converted to a bulk tailing • An additional mine at our Limpopo retreatment plant, and one concentrator operations is under care and in Limpopo maintenance • A bulk tailings treatment project is under • Post year-end: Lonmin acquired full construction control of Pandora by acquiring Anglo • Precious metal refi nery (PMR) in Platinum’s 42.5% participation interest in Brakpan, Gauteng the Pandora joint venture and the remaining 7.5% from Mvelaphanda Resources 07 / 08 / 09 / 10 / 11 / 12 / Safety and Community Relationships Managing Environmental Constructive Engagement: Governance Annexures Health and Investment Impacts and Opportunities Government, Regulatory and Other Stakeholders / 2 Lonmin Plc Approach to Reporting This Sustainable Development Report presents an overview of our Company, our approach to sustainable development, and the most material matters affecting Lonmin and its stakeholders. The report is structured around chapters that present the Towards the end of 2017 and post year-end, Lonmin’s context, signifi cance, management approach and performance Operational Review focused on determining the best ways of data for Lonmin’s fi ve material focus areas. Additional preserving value for shareholders and safeguarding the long- information on certain topics is available in various term interests of employees and all key stakeholders. Post supplementary reports and in our comprehensive GRI1 index. year-end, the potential transaction outcomes from the Operational Review have been superseded by the recommended offer from Sibanye-Stillwater to acquire Scope and boundary Lonmin, which was announced on 14 December 2017. This report covers the fi nancial year from 1 October 2016 For further information: to 30 September 2017. It discusses information relating to https://www.lonmin.com/media-centre/news/press-releases. Lonmin’s subsidiaries: Western Platinum Limited (WPL), Eastern Platinum Limited (EPL), Messina Platinum Mines Limited (MPML), Akanani Mining (Proprietary) Limited (Akanani) Units of measurement and and the Pandora joint venture. The report boundary includes the joint ventures and exploration activities over which the comparative data Company exercised management control during the Monetary amounts refl ected in this report are expressed in fi nancial year. South African Rand (R) or, where indicated, US Dollars (US$). The average cost of US$1 during the fi nancial year was Where relevant information is provided that falls outside the R13.37 (2016: R14.77). fi nancial year or outside the report boundary, this is disclosed accordingly. The preceding Sustainable Development Report Intensity or effi ciency ratios in the report are calculated covered the fi nancial year to 30 September 2016. on total production of 1,320,802 PGM ounces (PGMoz) (2016: 1,440,724 PGMoz), unless indicated otherwise. Lonmin-specifi c terms and references Rectifi cations The platinum supply review and PGM global demand data for The following terms are used to refer to operations and 2016 has been restated by SFA (Oxford). geographic areas: Core skills training data for 2016 has been restated to include • Marikana: The mining and processing activities of WPL fi rst aid training. and EPL in the North West province • The precious metal refi nery (PMR): The PMR owned by The quantities of waste rock disposed to rock dumps for 2014 WPL, located in Brakpan, Gauteng have been restated. • Limpopo operations: The operations of MPML (wholly The quantities of recycled ferrous and non-ferrous scrap have owned by WPL) as well as the Akanani activities, located been restated for 2013 to incorporate additional types of these in Limpopo scrap metals. Signifi cant changes to the Company Assurance The closure of high-cost Generation 1 shafts continued as Assurance on selected performance data disclosed in this planned during 2017 in line with the re-organisation of the report was provided by KPMG. This was performed according business announced in 2015. Newman shaft was closed to the International Standard on Assurance Engagements during the second quarter of the fi nancial year. The other (ISAE 3000) assurance standard and the International Council Generation 1 shafts (Hossy, W1, E1, E2, E3 and Pandora) on Mining and Metals’ (ICMM)2 Sustainable Development are managed as a coherent unit and some run by contractors, Framework: Assurance Procedure as it relates to Subject providing better fl exibility to retain or stop them, depending on Matters 1 to 4. Details of the scope of the assurance their profi t contribution to the Company. E2 shaft was put on engagements, the data assured and the statements care and maintenance post year-end. Lonmin’s Chief Operating of assurance are provided on page 113 to 117. Offi cer (COO) resigned with effect from 5 April 2017. The Chief Executive Offi cer (CEO) took over the role in addition to his Assurance provided by KPMG: Reasonable (✓RA) duties as CEO from that date. Limited (✓LA) 1 The GRI (formerly the Global Reporting Initiative) is a global reporting guideline that provides a framework for sustainable development reporting (www.globalreporting.org). Lonmin’s GRI index is available online at https://sd-report.lonmin.com/2017/download-manager/ 2 The ICMM is an organisation of mining, minerals and metals companies and associations committed to driving social, economic and environmental progress in the industry (www.icmm.com). 01 / 02 / 03 / 04 / 05 / 06 / Our Sustainability Approach Corporate Our Leadership Reporting According to Employee and Material Matters Profi le Strategy Overview Our Material Focus Areas Relationships Sustainable Development Report 2017 / 3 Reporting suite and guidelines This report is presented in accordance with the GRI’s
Load more

Recommended publications
  • Media Release 23 September 2014 Letter to the Editor
    Lonmin Plc 4 Grosvenor Place London SW1X 7YL United Kingdom T: +44 (0)20 7201 6000 F: +44 (0)20 7201 6100 Media Release www.lonmin.com 23 September 2014 Letter to the Editor - Mail and Guardian The M&G's story on Lonmin's historic tax affairs published on Friday 19 September 2014 contained significant inaccuracies and material omissions. Disappointingly, the lengthy answers provided to the M&G’s detailed questions were not reported. Any suggestion of potential illegality around Lonmin’s historic tax affairs is seriously damaging to the Company's reputation, not least because such allegations are wholly and absolutely false. The following facts and context, missing from the published article, are vital in judging its accuracy. 1. The Western Metal Sales (WMS) structure referred to was a structure not uncommon to old world conglomerates. The structure was in no way illegal and did not benefit Lonmin from a tax perspective as Lonmin remained liable for the payment of taxes in the UK arising from legitimate and reasonable commissions paid to Western Metal Sales. 2. This structure was changed in 2007 when Lonmin took a decision to move its marketing services to South Africa. 3. The move was based on cost concerns (having a company registered in Bermuda and operating out of London was expensive) and resulted in marketing personnel being based closer to Lonmin’s operations. 4. A transitional arrangement was put in place for 18 months and thereafter, from 1 October 2008, the marketing commission paid to Lonmin Management Services (LMS) was entirely taxable in South Africa.
    [Show full text]
  • Assessing the Potential Impact of the Marikana Incident on South African Mining Companies: an Event Method Study
    586 SAJEMS NS 18 (2015) No 4:586-607 ASSESSING THE POTENTIAL IMPACT OF THE MARIKANA INCIDENT ON SOUTH AFRICAN MINING COMPANIES: AN EVENT METHOD STUDY Nicholas Hill and Warren Maroun School of Accountancy, University of the Witwatersrand Accepted: July 15 Abstract This study examines the potential impact of industrial unrest and the outbreak of violence at Marikana on 16 August 2012 on the share prices of mining companies listed on the Johannesburg Stock Exchange (JSE) using an event methodology. Contrary to expectations, the Marikana incident does not appear to have had a widespread and prolonged effect on the South African mining sector. This may be the result of the strike action already having been discounted into the price of mining shares, implying that the market was only reacting to the unusually violent (but short-lived) protest. Alternately, the results could be indicative of investor confidence in the corporate social responsibility initiatives of the South African mining industry as a whole. This paper is the first to examine the potential impact of the Marikana incident on the share prices of mining companies listed on the JSE. It should be of interest to both academics and practitioners wanting to understand how share prices react to exogenous events. It is also relevant for corporate-governance researchers concerned with the relevance of social and governance practices in a South African setting. This research is faced with the limitations associated with most statistical research: that causality cannot be ascribed to tested relationships. Notwithstanding these limitations, it is argued that these findings are important, given the significant coverage of the Marikana incident and the ongoing debate on the need for corporate social responsibility.
    [Show full text]
  • Key Trends in the Resource Sustainability of Platinum Group Elements
    Ore Geology Reviews 46 (2012) 106–117 Contents lists available at SciVerse ScienceDirect Ore Geology Reviews journal homepage: www.elsevier.com/locate/oregeorev Key trends in the resource sustainability of platinum group elements Gavin M. Mudd ⁎ Environmental Engineering, Department of Civil Engineering, Monash University, Clayton, 3800, Melbourne, Australia article info abstract Article history: Platinum group elements (PGEs) are increasingly used in a variety of environmentally-related technologies, Received 6 November 2011 such as chemical process catalysts, catalytic converters for vehicle exhaust control, hydrogen fuel cells, Received in revised form 3 February 2012 electronic components, and a variety of specialty medical uses, amongst others — almost all of which have Accepted 3 February 2012 strong expected growth to meet environmental and technological challenges this century. Economic Available online 11 February 2012 geologists have been arguing on the case of abundant geologic resources of PGEs for some time while others still raise concerns about long-term supply — yet there remains no detailed analysis of formally reported Keywords: Platinum group elements (PGEs) mineral resources and key trends in the PGEs sector. This paper presents such a detailed review of the Economic mineral resources PGEs sector, including detailed mine production statistics and mineral resources by principal ore types, pro- Mineral resource sustainability viding an authoritative case study on the resource sustainability for a group of elements which are uniquely Bushveld Complex concentrated in a select few regions of the earth. The methodology, compiled data sets and trends provide Great Dyke strong assurance on the contribution that PGEs can make to the key sustainability and technology challenges – Noril'sk Talnakh of the 21st century such as energy and pollution control.
    [Show full text]
  • Glencore Plc FURTHER DETAILS of the LONMIN DISTRIBUTION FOR
    THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document. Glencore plc (Stock code: 805) FURTHER DETAILS OF THE LONMIN DISTRIBUTION FOR HONG KONG GLENCORE SHAREHOLDERS ONLY This document is a supplement to the Notice of Annual General Meeting of Glencore (the AGM Notice) made available to its shareholders holding shares on Glencore plc’s (Glencore or the Company) Hong Kong branch register or who have registered addresses in Hong Kong (together Hong Kong Glencore Shareholders) on 2 April 2015. 2 April 2015 1 EXPECTED TIMETABLE OF PRINCIPAL EVENTS FOR HONG KONG GLENCORE SHAREHOLDERS Other than in respect to the date and time for the Glencore annual general meeting, the dates and times given in the table below in connection with the Lonmin distribution are indicative and are based on Glencore’s current expectations and may be subject to change (including being conditional on the passing of Resolution 3 in the AGM Notice dated 2 April 2015). If any of the times and/or dates below change, the revised times and/or dates will be notified to Glencore shareholders through a Regulatory Information Service and be subject to separate announcement(s) published on http://www.hkexnews.hk/. All references in this document to times and dates are to Central European Summer Time (CEST) times and dates unless otherwise stated.
    [Show full text]
  • Massacre of Workers at the Marikana Mine
    CASE Nº17 Lonmin Company South Africa Platinum mine Massacre of workers IFC at the Marikana Mine On August 10, 2012, thousands of miners went on fire on the striking miners, shooting 112, and killing strike at the Marikana platinum mine, just north 34.6 What quickly became known as the Marikana of Johannesburg, South Africa. The workers were Massacre was the bloodiest use of force by the South demanding fair wages and better working and living African government since apartheid’s Sharpeville conditions. The strike was a wildcat strike, organized Massacre in 1960.7 without the backing of the main union, the National Union of Mineworkers (NUM), which many workers During the fateful events of August 2012, IFC held believed was in league with the mine owner, British- US$50 million of equity shares in Lonmin’s platinum based Lonmin Company. mines in Marikana.8 The initial investment, made in 2007, was the institution’s largest to date in Marching workers demanded an audience with Lonmin Sub-Saharan Africa and a showcase for community management, but Lonmin refused to negotiate outside development.9 Fifteen million dollars was earmarked of official bargaining structures.1 The next day, as both for “the development of a comprehensive, large Lonmin and NUM demanded workers return to work, scale community and local economic development tensions rose and strikers carrying traditional spears program.”10 IFC provided three years of advisory and sticks began intimidating workers to join the strike. services to boost Lonmin’s capacity in four key Lonmin
    [Show full text]
  • Audited Consolidated Financial Statements of Lonmin for 2018
    Lonmin Plc / 107 Annual Report and Accounts 2018 Independent Auditor’s Report to the Members of Lonmin Plc 1 Our opinion is unmodified Strategic Report We have audited the financial statements of Lonmin Plc (“the Company”) for the year ended 30 September 2018 which comprise the Consolidated Income Statement, the Consolidated Statement of Comprehensive Income, the Consolidated Statement of Financial Position, the Company Balance Sheet, the Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, the Consolidated Statement of Cash Flows, and the related notes, including the accounting policies in note 1. In our opinion: • the financial statements give a true and fair view of the state of the Group’s and of the parent Company’s affairs as at 30 September 2018 and of the Group’s profit for the year then ended; • the Group financial statements have been properly prepared in accordance with International Financial Reporting Standards as adopted by the European Union (IFRSs as adopted by the EU); Governance • the parent Company financial statements have been properly prepared in accordance with UK accounting standards, including FRS 101 Reduced Disclosure Framework; and • the financial statements have been prepared in accordance with the requirements of the Companies Act 2006 and, as regards the Group financial statements, Article 4 of the IAS Regulation. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities are described below. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion. Our audit opinion is consistent with our report to the audit committee.
    [Show full text]
  • Massacre at Marikana
    MASSACRE AT MARIKANA Michael Power & Manson Gwanyanya • A failure of oversight and the need • for direct community involvement ABSTRACT This paper assesses the findings of the Marikana Commission of Inquiry against Lonmin – the mining company at the centre of a wage dispute that led to the deaths of 34 protesting mineworkers in South Africa’s platinum belt – and the South African Department of Mineral Resources (DMR), particularly in relation to: (1) Lonmin’s failure to provide adequate housing to mineworkers; (2) DMR’s failure to exercise appropriate oversight over Lonmin; (3) how Lonmin and the DMR helped create an environment conducive to the massacre; and (4) how little will change without direct community involvement and oversight. KEYWORDS Marikana | South Africa | Department of Mineral Resources | South African Police Service | Lonmin • SUR 25 - v.14 n.25 • 61 - 69 | 2017 61 MASSACRE AT MARIKANA 1 • Introduction On 16 August 2012, 34 protesting mineworkers were shot and killed by members of the South African Police Service (SAPS) near a koppie1 in Marikana,2 located in South Africa’s North West Province. A further 79 mineworkers were injured and 259 were arrested. The mineworkers, employed to mine platinum at Lonmin’s Marikana operations,3 were protesting against Lonmin for a “living wage” of R12,500 per month (approx. $930). During the week preceding the shootings, 10 people were killed, including two private security guards and two police officers. The Commission of Inquiry (Marikana Commission) that was appointed by South African
    [Show full text]
  • 2017 US Bond
    NOTICE THIS OFFERING CIRCULAR IS AVAILABLE ONLY TO INVESTORS WHO ARE EITHER (1) QUALIFIED INSTITUTIONAL BUYERS WITHIN THE MEANING OF RULE 144A UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR (2) PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) AND WHO ARE OUTSIDE OF THE UNITED STATES IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT (AND, IF INVESTORS ARE RESIDENT IN A MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, A QUALIFIED INVESTOR). IMPORTANT: You must read the following before continuing. The following applies to the offering circular following this notice, whether received by e-mail or otherwise received as a result of electronic communication. You are advised to read this disclaimer carefully before reading, accessing or making any other use of the offering circular. In accessing the offering circular, you agree to be bound by the following terms and conditions, including any modifications to them, each time you receive any information from us as a result of such access. NOTHING IN THIS ELECTRONIC TRANSMISSION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. THE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR OTHER JURISDICTION AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS.
    [Show full text]
  • Proposed Acquisition of Lonmin by Sibanye-Stillwater
    Sibanye Gold Limited Trading as Sibanye-Stillwater Reg. 2002/031431/06 Incorporated in the Republic of South Africa Share code: SGL ISIN – ZAE000173951 Issuer code: SGL (“Sibanye-Stillwater”,”the Company” and/or “the Group”) Registered Address: Constantia Office Park Bridgeview House • Building 11 • Ground Floor Cnr 14th Avenue & Hendrik Potgieter Road Weltevreden Park • 1709 Postal Address: Private Bag X5 • Westonaria • 1780 Tel +27 11 278 9600 • Fax +27 11 278 9863 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION MARKET RELEASE Proposed acquisition of Lonmin by Sibanye-Stillwater Key Highlights: Detailed due diligence confirms significant synergies between Sibanye-Stillwater and Lonmin’s contiguous PGM assets Sibanye-Stillwater expects the transaction to be net asset value accretive on closing, and earnings and cash flow accretive in respect of Sibanye-Stillwater Shares from 2021, once all synergies are realised and related one-off costs incurred Buying downstream processing business with a replacement value significantly higher than acquisition cost Enhanced scale facilitates greater operational flexibility and more effective allocation of capital Sizeable PGM Resources with potential upside from advanced brownfield projects and greenfield project pipeline 1. Introduction The Board of Sibanye-Stillwater is pleased to announce that it has reached agreement with the Lonmin Board on the terms of a recommended all-share offer pursuant to which Sibanye-Stillwater, and/or a wholly-owned subsidiary of Sibanye-Stillwater, will acquire the entire issued and to be issued ordinary share capital of Lonmin (the “Offer” or the "Acquisition").
    [Show full text]
  • Why Invest in Platinum Stocks? What the Future Could Hold for Lonmin, the AMCU and South African Platinum Production
    What the Future Why Invest Could Hold for in Platinum Lonmin, the AMCU Stocks? and South African Platinum Production A collection of articles from Platinum Investing News looking at the future for platinum stocks By Teresa Matich Why Invest in Platinum Stocks? What the Future Could Hold for Lonmin, the AMCU and South African Platinum Production Table of Contents Robert Friedland and the Case for Platinum Stocks ..................................................................................... 2 Urbanization and air pollution .................................................................................................................. 2 Catalytic converters .................................................................................................................................. 3 Hydrogen fuel cells.................................................................................................................................... 3 Updated Platinum Price Forecast for 2015 ................................................................................................... 4 So far in 2015 ............................................................................................................................................ 4 Production cost curve ............................................................................................................................... 5 What’s next for the platinum price forecast? ........................................................................................... 5 Why Did the
    [Show full text]
  • Lonmin Plc Annual Report and Accounts for the Year Ended 30 September 2018
    Lonmin Plc Annual Report and Accounts For the year ended 30 September 2018 Lonmin Plc Annual Report and Accounts for the year ended 30 September 2018 2018 A Solid Performance ready for the next era Lonmin is a primary producer of Platinum Group Metals (PGMs). These metals are essential for many industrial applications, especially catalytic converters for internal combustion engine emissions, as well as their widespread use in jewellery. Saleable by-products from our PGM mining include gold, copper, nickel and chrome. Lonmin has an enviable mine-to-market business. Our core operations, consisting of eleven shafts and inclines, concentrators, a smelter complex and refineries are situated in the Bushveld Igneous Complex and Brakpan in South Africa, a country which hosts around 80% of the world’s economically viable platinum-bearing deposits (reserves). We have a New Order Mining Licence granted by the South African government for our operations, which runs to 2037 and is renewable to 2067. We have resources of 161 million troy ounces (3PGE + Au) and 31 million ounces (3PGE + Au) of reserves. See further information at www.lonmin.com Lonmin Plc / 01 Annual Report and Accounts 2018 Contents 02 What we do 03 Where we operate 04 Key Features Strategic Report Strategic Report 06 Chairman’s Letter 08 Chief Executive Officer’s Letter A summary of the changing landscape we 12 Key Performance Indicators (KPIs) operate in, and how that has shaped our 14 Our Business Model strategy and financial position. Plus a review 16 Our Strategic Approach of performance against our goals and our 20 Market Review and Outlook 22 Principal Risks and Viability approach to running a sustainable business.
    [Show full text]
  • Revisiting Ubuntu in the Midst of a Violent Conflict: Reflections on the Marikana Tragedy in South Africa
    International Relations and Diplomacy, August 2015, Vol. 3, No. 8, 520-546 D doi: 10.17265/2328-2134/2015.08.003 DAVID PUBLISHING Revisiting Ubuntu in the Midst of a Violent Conflict: Reflections on the Marikana Tragedy in South Africa Tembeka Ngcebetsha, Nomazizi Jamela Freedom Park, Salvokop, Pretoria, South Africa South Africa comes from a bitter past of gross inequalities and human rights abuses suffered by the majority of Africans as a result of the colonial and apartheid legacy. When apartheid was dismantled in 1994, through the spirit of reconciliation which was spearheaded by the country’s late and former President, Mr. Nelson Rolihlahla Mandela, the country was transformed into a democracy where citizens opted to live together on the basis of equality and mutual respect for each other. The ―New‖ South Africa immediately raised hope for change in the hearts of the majority, whose human rights were previously violated; who thought that the new dispensation would immediately bring improvements in their socioeconomic conditions. Based on the conflict perspective, this paper critically reflects on the recent case of violent conflict in South Africa known as the Marikana tragedy, to explore the efficacy of fostering meaningful reconciliation in the midst of a violent conflict. Through interviews carried out with survivors and wives of the deceased victims in October 2014, the paper demonstrates how the South African government has failed to meet the post-apartheid expectations, but instead, continues to serve the interests of capital at the expense of the majority of people whose working and living conditions have not improved 20 years into democracy.
    [Show full text]