Business News

Lonmin CEO is hospitalised

LONMIN, which is dealing with a crippling strike and outbreaks of violence at its Marikana mine where 10 people were killed earlier in the week, reported yesterday that its CEO Ian Farmer is in hospital.

17 August 2012 | Staff Reporter and Sapa

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An attempt by the police yesterday to disperse striking workers at Marikana mine ended in a shootout between the two groups. A Sapa reporter at the scene said he counted 18 bodies lying next to the nearby Wonderkop squatter camp. The shooting lasted about three minutes.

Police had tried to intercept a group of the strikers gathered on top of a  hill. The strikers were wielding pangas and chanting war songs. 

Police fired tear gas and then used a water cannon to disperse the strikers, who retaliated by firing live ammunition at the police.

The area around the hill, which the strikers had turned into their base for the past few days, was cordoned off with barbed wire.

Farmer has been “diagnosed with a serious illness and is presently in hospital”, the platinum producer, said.

Its chairman Roger Phillimore will carry out Farmer’s day-to-day duties.
 In addition, Mohamed Seedat, a director of the business, will join the Exco to provide added support.

Lonmin also said the situation at its Marikana mines has remained relatively quiet since the morning of Wednesday  but matters remain tense.

As a result of the disruption, Lonmin has so far lost six days of mined production, representing approximately 300 000 tons of ore, or 15 000 platinum equivalent ounces.

“Consequently, it is unlikely that Lonmin will meet its full year guidance of
750 000 saleable ounces of platinum,” it said.

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