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Regulatory Release – Revised Management Structure Update
Lonmin Plc (Incorporated in England and Wales)
(Registered in the Republic of South Africa under registration number 1969/000015/10)
JSE code: LON
Issuer Code: LOLMI & ISIN : GB0031192486 ("Lonmin")
Regulatory Release – Revised Management Structure Update
Thursday 28 February 2013
Lonmin today announces that it has made significant progress in its review of the
Company’s operating model and management structure. The Company is now in
consultation with its unions (AMCU, NUM, Solidarity, and UASA) and employees on a
proposed new operating structure.
The review of the operating model forms part of the Lonmin Renewal Plan which was
announced at the end of October 2012 and has been undertaken as part of a strategy aimed
at achieving a sustainable business in an environment characterised by weak global market
conditions and high input costs.
The “ramp-up” element of the Renewal Plan delivered excellent results in the first Quarter,
as announced on 31 January 2013, and is progressing ahead of schedule.
Approximately 150 positions are likely to be affected initially, all of which are expected to be
in the management levels.
All parties are mindful of the need to preserve jobs wherever possible and manage the
process with sensitivity. In view of this the Company is engaging with its affected unionised
employees through their registered trade unions as well as with non-unionised employees
as required by South African Labour legislation to consult on ways to minimise the impact of
the restructuring and redundancies that may flow from it.
The Company also proposes to engage the services of experts in the relevant fields to assist
affected employees by providing counselling, and financial planning advice and access to
employment advisors.
Lonmin currently employs approximately 28,000 employees.
ENQUIRIES
Investors / Analysts:
Lonmin
Tanya Chikanza (Head of Investor Relations) +27 11 218 8358 /
+44 20 7201 6007
Media:
Cardew Group
James Clark / Alexandra Stoneham +44 20 7930 0777
Sue Vey +27 72 644 9777
Brunswick - Johannesburg
Felicity Hudson +27 11 502 7400 /
+27 83 325 9169
Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited
Notes to editors
Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock
Exchange, is one of the world's largest primary producers of 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.
Lonmin's operations are situated in the Bushveld Complex in South Africa, where nearly 80%
of known global PGM resources are found.
The Company creates value for shareholders through mining, refining and marketing PGMs
and has a vertically integrated operational structure - from mine to market. Lonmin's mining
operations extract ore from which the Process Division produces refined PGMs for delivery
to customers. Underpinning the operations is the Shared Services function which provides
high quality levels of support and infrastructure across the operations.
For further information please visit our website: http://www.lonmin.com
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