Lonmin

The company was incorporated in the United Kingdom on 13 May 1909 as the London and Rhodesian Mining and Land Company Limited.{{Cite book|editor=Bower, Melvin E.|title=Colonialism: an International Social, Cultural and Political Encyclopedia|location=Santa Barbara|publisher=ABC-CLIO|year=2003|isbn=1-57607-335-1|pages=350–351}} It had a founding capital of £1300, which was raised by seven shareholders. Led by Julius Weil, the company started to invest in mining rights in Rhodesia. In 1912 Lonrho started to invest in farming land as well and by 1945 it had become Rhodesia's biggest company.{{Cite book|editor=Bower, Tom|title=Tiny Rowland - A Rebel Tycoon|location=London|publisher=Mandarin Paperbacks|year=1994|isbn=0-7493-1433-8|pages=50–51}}

Businessman Tiny Rowland was recruited as chief executive in 1962.[http://news.bbc.co.uk/1/hi/uk/139614.stm Tiny in name, not in nature] BBC News, July 1998 For many years during the second half of the twentieth century it was frequently in the news, not only due to the politically sensitive part of the world in which it had mining businesses, but also – as it strove to become a conglomerate not wholly dependent on these businesses – in a number of takeover battles, most notably for the Harrods of Knightsbridge department store.

In 1968, Lonrho acquired Ashanti Goldfields Corporation, a gold mining business in Ghana.{{Cite news

|title=Ashanti-Lonrho: terms agreed

|work=The Times

|author=Berry Ritchie

|date=24 October 1968}} The former Conservative minister Duncan Sandys, a director of Ashanti, became Lonrho's chairman in 1972.{{Cite book

|title=Duncan Sandys

|work=Who was Who

|publisher=A&C Black

|date=January 2007}}

Sir Angus Ogilvy, married to a member of the British royal family (Princess Alexandra), was a Lonrho director and this increased media interest in the company's affairs. Ogilvy's career ended when Lonrho was involved in a sanctions-busting scandal concerning trade with Rhodesia. Prime Minister, Edward Heath, criticised the company, describing it in the House of Commons in 1973 as "an unpleasant and unacceptable face of capitalism."[http://news.bbc.co.uk/1/hi/world/africa/139596.stm Tiny Rowland: African Giant], BBC News, July 1998

By 1979, Lonrho employed 140,000 people worldwide.{{cite book|author=Geoffrey Jones|title=Merchants to Multinationals: British Trading Companies in the Nineteenth and Twentieth Centuries|url=https://books.google.com/books?id=q-uCPTZMDmQC|year=2000|publisher=Oxford University Press|isbn=978-0-19-829450-4|page=156}}

During the 1980s, Lonrho entered the British newspaper market, buying the Sunday newspaper The Observer in 1981{{Cite news|url=https://www.theguardian.com/newsroom/story/0,,735573,00.html |title=Observer text timeline |work=The Guardian|location=UK |date= 16 December 2008|accessdate=18 April 2011}} and the newly launched daily Today in 1986.{{Cite news|author=Steve Lohr |url=https://query.nytimes.com/gst/fullpage.html?res=940DEED81138F932A25752C1A96E948260&sec=&spon=&pagewanted=all |title=A second life! |work=The New York Times|date=11 November 1988 |accessdate=18 April 2011}} Today was sold to News International the following year,{{cite web |url=http://ketupa.net/murdoch2.htm |title=Murdoch |publisher=Ketupa |accessdate=18 April 2011 |archive-url=https://web.archive.org/web/20160303174536/http://ketupa.net/murdoch2.htm |archive-date=3 March 2016 |url-status=dead }} while the Guardian Media Group bought the Observer in 1993.

Tiny Rowland was finally ejected from Lonrho in October 1993 after a boardroom tussle with director Dieter Bock.{{cite web|last=Ipsen |first=Erik |url=http://www.iht.com/articles/1993/10/20/lonrho.php |title=Boardroom rebellion demotes Tiny Rowland |work=International Herald Tribune |date=20 October 1993 |accessdate=18 April 2011}} He was replaced by Nick Morrell, a former chief executive of The Observer.{{cite news|url=https://www.telegraph.co.uk/finance/4474988/Morrell-swaps-platinum-for-financial-PR.html|title=Morrell swaps platinum for financial PR|date=10 December 2000|newspaper=The Telegraph|accessdate=25 March 2013}}

Two months before Rowland's death (on 26 July 1998) the assets of Lonrho were split. Two publicly listed companies, Lonrho plc and Lonrho Africa plc were created – the former retaining all the non-African businesses and mining assets.{{cite web|url=http://www.btimes.co.za/98/0517/comp/comp5.htm |title=Lonhro Africa keen not to lose its flair |publisher=Btimes.co.za |accessdate=18 April 2011}} In 1999, Lonrho plc was renamed as Lonmin plc and a new era as a focused mining company began.[http://www.moneyweb.co.za/mw/view/mw/en/page295164?oid=534411&sn=2009+Detail&pid=295164 The Investment Case – Lonmin plc] Moneyweb, 1 April 2011 In 2000 Gordon Haslem became CEO.{{cite magazine|url=http://investing.businessweek.com/research/stocks/people/person.asp?personId=1779682&ticker=AQP:AU&previousCapId=4492817&previousTitle=PANAUST%20LTD|archive-url=https://web.archive.org/web/20130602092502/http://investing.businessweek.com/research/stocks/people/person.asp?personId=1779682&ticker=AQP:AU&previousCapId=4492817&previousTitle=PANAUST%20LTD|url-status=dead|archive-date=2 June 2013|title=Gordon Edward Haslam|magazine=Business Week|accessdate=25 March 2013}}

In 2004 Brad Mills became CEO: Mills in turn announced his intention to resign from his position in 2008. Mills leaves behind a "significant contribution in developing the company over the past four years" according to chairperson, Sir John Craven, as his introduction of mechanized mining has increased safety for the miners, as well as increasing productivity.{{cite web|author=Chanel de Bruyn |url=http://www.miningweekly.com/article/lonmins-mills-quits-as-xstrata-deadline-approaches-farmer-named-ceo-2008-09-29 |title=Farmer named CEO |publisher=Miningweekly.com |accessdate=18 April 2011}} Lonmin indicated that former chief strategic officer responsible for the company's business development, Ian Farmer, would replace him.{{cite web|author=Chanel de Bruyn |url=http://www.miningweekly.com/article.php?a_id=143997 |title=Lonmin's Mills quits as Xstrata deadline approaches, Farmer named CEO |publisher=Miningweekly.com |accessdate=18 April 2011}}

On 1 October 2008, after building a 24.9% stake in Lonmin, Xstrata announced it was not proceeding with a takeover pitched at £33 per Lonmin share, blaming the failure of its bid on "unprecedented uncertainty in financial markets" caused by the 2007–2008 financial crisis.{{cite news|url=https://www.theguardian.com/business/2008/oct/02/lonmin.xstrata |title=Credit crisis forces Xstrata to ditch Lonmin bid |newspaper=The Guardian |date=2 October 2008 |accessdate=18 April 2011 |location=London |first=Terry |last=MacAlister}} Xstrata and its 24.9% stake in Lonmin was later acquired by Glencore on 2 May 2013.{{cite web|url=http://www.ft.com/cms/s/0/9d355d82-b31a-11e2-95b3-00144feabdc0.html#axzz2SGZjwRFS|title=Glencore finishes takeover of Xstrata|publisher=FT.com|date=2 May 2013|accessdate=3 May 2013}} Glencore announced on 11 February 2015 that it intends to divest its 23.9% stake in Lonmin, which it inherited through the acquisition of Xstrata. Glencore's divestment in Lonmin will be implemented by way of a distribution in specie to Glencore shareholders.{{cite web|url=http://otp.investis.com/clients/uk/glencore1/rns/regulatory-story.aspx?cid=275&newsid=483966|title=Glencore's 23.9% stake in Lonmin plc|publisher=glencore.com|date=11 February 2015|accessdate=11 February 2015}}

Farmer resigned as CEO in 2012 for health reasons.{{cite web|url=https://www.bbc.co.uk/news/world-africa-20858639|title=Platinum miner Lonmin CEO Ian Farmer stands down|publisher=BBC|date=28 December 2012|accessdate=18 April 2011}}

In October 2017, the Mining Forum of South Africa (MFSA) and Bapo ba Mogale Investments (BBMI) pleaded to President Jacob Zuma to suspend Lonmin's operating licence over non-compliance with its social and labour plan (SLP) for the years 2014 to 2018.{{Cite news |title=Lonmin hits back at calls to shut down its operations |url=http://www.fin24.com/Companies/Mining/lonmin-hits-back-at-calls-to-shut-down-its-operations-20171029-3 |access-date=2017-10-31 |work=Fin24}}

In 2019, Lonmin was acquired by Sibanye-Stillwater.

The Company was a producer of platinum group metals operating mainly in the Bushveld Complex in South Africa. It had two multi-shaft mining operations, located respectively in:{{cite web|url=http://www.lonmin.com/mainnotop.aspx?pageId=19 |title=Current operations |publisher=Lonmin.com |accessdate=18 April 2011}}

• Marikana Region
• Limpopo Region

{{main|Marikana miners' strike}}

At the Marikana platinum mines, operated by Lonmin at Marikana near Rustenburg, 3,000 workers walked off the job on 10 August 2012 after Lonmin failed to meet with workers.{{cite news|url=http://mg.co.za/article/2012-10-22-lonmin-caused-problem-at-marikana-say-police/|title=NUM: Lethal force ahead of Marikana shootings was justified|date=22 October 2012|newspaper=Mail & Guardian|accessdate=23 October 2012}}{{cite news|url=http://dailymaverick.co.za/opinionista/2012-10-12-marikana-prequel-num-and-the-murders-that-started-it-all |title=Marikana prequel: NUM and the murders that started it all |newspaper=Daily Maverick |date=2012-10-12 |accessdate=2013-03-25}} The event garnered international attention following a series of violent incidents which began when leaders from the National Union of Mineworkers (NUM) allegedly opened fire on striking NUM members on 11 August.{{cite web|url=http://mg.co.za/article/2012-10-22-lonmin-caused-problem-at-marikana-say-police/ |title=NUM: Lethal force ahead of Marikana shootings was justified | News | National | Mail & Guardian |publisher=Mg.co.za |date=2012-10-22 |accessdate=2013-03-25}}

The Marikana Massacre,{{cite news|url=https://www.bbc.co.uk/news/world-africa-19388584|title=South Africa's ANC to discuss mine shootings row|date=27 August 2012|accessdate=27 August 2012|work=BBC News}} as referred to in the media, occurred when police broke up an occupation by striking Lonmin workers of a 'koppie' (hilltop) near Nkaneng shack settlement in Marikana on Thursday 16 August 2012. As a result of the police shootings, 34 miners died and an additional 78 miners were injured causing anger and outcry against the police and South African government. Further controversy emerged after it was discovered that most of the victims were shot in the back[https://www.telegraph.co.uk/news/worldnews/africaandindianocean/southafrica/9501910/Striking-South-African-miners-were-shot-in-the-back.html Striking South African miners 'were shot in the back'], The Daily Telegraph, 27 August 2012 and many victims were shot far from police lines.[http://dailymaverick.co.za/article/2012-08-30-the-murder-fields-of-marikana-the-cold-murder-fields-of-marikana The murder fields of Marikana: the cold murder fields of Marikana] {{Webarchive|url=https://web.archive.org/web/20120830150415/http://dailymaverick.co.za/article/2012-08-30-the-murder-fields-of-marikana-the-cold-murder-fields-of-marikana |date=30 August 2012 }}, by Greg Marinovich, The Daily Maverick, 8 September 2012 The violence on 16 August 2012 was the single most lethal use of force by South African security forces against civilians since the end of the apartheid era.{{cite news |agency=Associated Press | url=https://www.washingtonpost.com/business/south-african-police-open-fire-on-striking-mine-workers-several-injured/2012/08/16/c9c99e3c-e7ad-11e1-9739-eef99c5fb285_story.html | archive-url=https://web.archive.org/web/20120817062827/http://www.washingtonpost.com/business/south-african-police-open-fire-on-striking-mine-workers-several-injured/2012/08/16/c9c99e3c-e7ad-11e1-9739-eef99c5fb285_story.html | url-status=dead | archive-date=17 August 2012 | title=South African police open fire as striking miners charge, killing and wounding workers | newspaper=The Washington Post | date=16 August 2012 | accessdate=16 August 2012}}

During the Marikana Commission, it also emerged that Lonmin management solicited Lonmin shareholder and ANC heavyweight, Cyril Ramaphosa, to coordinate "concomitant action" against "criminal" protesters and is seen by many as therefore being responsible for the massacre.[http://dailymaverick.co.za/article/2012-10-25-cyril-ramaphosa-the-true-betrayal Cyril Ramaphosa: The true betrayal] {{Webarchive|url=https://web.archive.org/web/20121025233419/http://dailymaverick.co.za/article/2012-10-25-cyril-ramaphosa-the-true-betrayal |date=25 October 2012 }}, by Ranjeni Munusamy, The Daily Maverick, 25 October 2012[http://news.iafrica.com/sa/823497.html 'Ramaphosa must say sorry'] {{Webarchive|url=https://web.archive.org/web/20130603185936/http://news.iafrica.com/sa/823497.html |date=3 June 2013 }}, iAfrica.com, 24 October 2012 Submissions by the South African Police Service accused Lonmin of being responsible for the violence because of their failure to negotiate with striking miners.[http://www.bdlive.co.za/national/2012/10/23/saps-blames-lonmin-for-marikana-strikers-deaths SAPS blames Lonmin for Marikana strikers deaths], Business Day, 23 October 2012

{{main|2014 South African platinum strike}}

In late January 2014 thousands of employees belonging to Lonmin went on strike, demanding a basic salary of R12,500 ($1,180). This amount excludes so-called "living out allowances", for staff who choose not to stay in mine housing on the mine property. This is the same salary for which striking miners were shot and killed by the South African Police Service (SAPS) in 2012. Most of the miners belonged to the miners' union 'AMCU' which South African politician and Commander in Chief of the Economic Freedom Fighters had vowed to sponsor in order to allow the miners to continue striking. The platinum miners were mainly based in Marikana, the town in which Julius Malema jump-started his political party and gained popularity with most of the miners.{{cite news|title=S. Africa Platinum Strike Ends, But Not Its Impact|author=Gillian Parker|date=25 June 2014|work=Voice of America|url=https://www.voanews.com/a/platinum-strike-ends-but-not-its-impact/1944791.html|access-date=29 June 2014}}

The strike, the longest in the history of South Africa, ended in late June 2014 when the mineworkers union signed a 3-year settlement deal with the mine owners which saw the lowest paid workers, whose basic salary was less than R12,500, increased by R1,000 ($95) a month for two years, and by R950 per month in the third year. The agreement also ensured no platinum worker would earn less than R8,000 as a basic salary.{{citation needed|date=November 2021}}

{{Portal|South Africa|Companies}}

• Lonrho

{{reflist}}

• [http://www.lonmin.com/ Official site]
• "[http://news.bbc.co.uk/1/hi/uk/139598.stm Tiny Rowland dies at 80]." BBC. Monday 27 July 1998.
• "[http://news.bbc.co.uk/2/hi/africa/139596.stm World: Africa Tiny Rowland - African giant]." BBC. Sunday 26 July 1998.
• "[https://www.news24.com/fin24/lonmin-how-cyril-never-paid-back-the-money-20151022 Lonmin: How Cyril never paid back the money]. Finweek. Thursday 29 October 2015.

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Category:Mining companies of the United Kingdom

Category:Platinum mining companies

Category:Palladium mining companies

Category:Companies formerly listed on the London Stock Exchange

Category:Companies based in Johannesburg

Category:Non-renewable resource companies established in 1909

Category:Xstrata

Category:Mining in South Africa

Category:1909 establishments in England

Category:2019 mergers and acquisitions

Category:Cyril Ramaphosa