Anglo American executive joins Lonmin as CEO

Platinum producer Lonmin announced on Tuesday the appointment of Ben Magara as Chief Executive Officer (CEO).

Platinum producer Lonmin announced on Tuesday the appointment of Ben Magara as Chief Executive Officer (CEO).

Magara, who is currently the Executive Head of Engineering and Capital Projects at Anglo American Platinum, will take over on July 1st.

He has 22 years of experience including as CEO of Anglo American's arm Anglo Coal South Africa.

Lonmin's Chairman, Roger Phillimore said: "The board is confident that Ben's extensive experience in working in South Africa and the mining community, his relationships and his demonstrated success in proactive relationship building with all stakeholders will drive Lonmin forward."

He said the company's renewal plan was on track with progress made towards initiatives to improve the "working and living environment of all Lonmin employees for the benefit of all stakeholders and shareholders".

Magara will take over from Simon Scott who has been acting CEO since August 2012 when Ian Farmer stepped down due to illness.

"Lonmin is a company with excellent assets. I am excited at the prospect of leading team Lonmin and contributing to making a positive difference," Magara said.

"The success of the mining industry is vital to the future of South Africa and as the Lonmin team we will drive excellence and build value with and for all our stakeholders."

RD

Recommended

Ensign Group: profiting from US private care
Trading

Ensign Group: profiting from US private care

Nursing and care-home specialist Ensign Group should thrive as Americans age. Matthew Partridge picks the best way to play it.
28 Sep 2021
How to profit from India’s high-tech recovery
Share tips

How to profit from India’s high-tech recovery

Professional investor David Cornell of the India Capital Growth Fund, selects three of his favourite Indian stocks to buy now.
27 Sep 2021
Share tips of the week – 24 September
Share tips

Share tips of the week – 24 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
24 Sep 2021
Three strong Asian stocks trading at bargain prices
Share tips

Three strong Asian stocks trading at bargain prices

Professional investor Nitin Bajaj of the Fidelity Asian Values investment trust picks three stocks that dominate their industries, earn good returns o…
20 Sep 2021

Most Popular

A nightmare 1970s scenario for investors is edging closer
Investment strategy

A nightmare 1970s scenario for investors is edging closer

Inflation need not be a worry unless it is driven by labour market shortages. Unfortunately, writes macroeconomist Philip Pilkington, that’s exactly w…
17 Sep 2021
What really causes inflation? Here’s what prices since 1970 tell us
Inflation

What really causes inflation? Here’s what prices since 1970 tell us

As UK inflation hits 3.2%, Dominic Frisby compares the cost of living 50 years ago with that of today, and explains how debt drives prices higher.
15 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021