HomeInternationalLonmin appoints Ben Magara as new CEO

Lonmin appoints Ben Magara as new CEO

Newly appointed
Lonmin CEO
Ben Magara
Johannesburg, South Africa — 02 April 2013 – Lonmin plc “’ the world’s third-biggest platinum producer “’ has appointed Ben Magara as the company’s new chief executive officer.

Making the announcement in a statement reported by Bloomberg News here, Lonmin said that Magara, who would start on July 1, was the executive head of engineering and capital projects at Anglo American Platinum Limited (AMPLATS) “’ the number one producer of the metal.

Simon Scott “’ who has been acting in the position since the company said on August 16 that former CEO Ian Farmer had been hospitalised  will resume his role as chief financial officer when Magara joins.

A six-week walkout at Lonmin’s Marikana operation, about 170km north-west of Johannesburg, resulted in the loss of an estimated 110,000oz of platinum production, the company revealed in a statement on November 9. Marikana is in the Rustenburg region, site of the world’s largest platinum reserves. On August 16 police shot dead 34 protesting miners at Marikana.

Before his position at Anglo American Platinum, Magara was the CEO of Anglo American plc’s South African coal unit. Farmer, who had been Lonmin’s CEO for four years, resigned in December.

Lonmin declined 0.9% to 288.40 pence by 11:17 a.m. today in London.

Source: Bloomberg News. For more information, click here.