Fermer X Les cookies sont necessaires au bon fonctionnement de 24hGold.com. En poursuivant votre navigation sur notre site, vous acceptez leur utilisation.
Pour en savoir plus sur les cookies...
Cours Or & Argent en

Lonmin PLC.

Publié le 12 décembre 2011

Hemscott News Alert - Lonmin PLC

( 0 vote, 0/5 ) Imprimer l'article
  Article Commentaires Commenter Notation Suivre la société  
Mots clés associés :   Dollar | Zinc |
RNS Number : 8112T
Lonmin PLC
12 December 2011


12 December 2011


Lonmin Plc ("Lonmin" or the "Company")


Annual Report and 2012 Annual General Meeting


On 14 November 2011 Lonmin announced its Final Results for the year ended 30 September 2011.   The announcement made on that date included inter alia a condensed set of financial statements and a management report, as required by DTR 4.1.


Lonmin has today posted to shareholders and, in accordance with LR 9.6.1 R, has submitted to the National Storage Mechanism, printed copies of the following documents:


? Annual Report and Accounts for the year ended 30 September 2011

? Circular relating to the Annual General Meeting to be held on 26 January 2012

? Forms of Proxy for shareholders on the UK and SA registers


These documents will shortly be available for inspection on the National Storage Mechanism www.Hemscott.com/nsm.do.


As required by DTR 6.3.5 R (3), the Company confirms that the Annual Report and the Circular relating to the Annual General Meeting are now available to view or download in pdf format from the Lonmin website, www.lonmin.com.


The appendix to this announcement contains additional information which has been extracted from the Annual Report and Accounts for the year ended 30 September 2011 (the "Annual Report and Accounts") for the purposes of compliance with DTR 6.3.5 and should be read together with the Final Results Announcement, which can be downloaded from the Company's website at www.lonmin.com. This announcement should be read in conjunction with and is not a substitute for reading the full Annual Report and Accounts.  Together these constitute the information required by DTR 6.3.5. which is required to be communicated to the media in full unedited text through a Regulatory Information Service. Page and note references in the text below refer to page numbers and notes in the Annual Report and Accounts:


?  A statement on the principal risks and uncertainties

?  A statement on related party transactions

?  The Directors' Responsibility Statement






Lonmin's Principal Risks and Uncertainties


Lonmin's principal risks are detailed below together with their potential impact and mitigating strategies. These risks have been ranked according to magnitude of potential impact before mitigating actions. These risks represent a snapshot of the Company's risk profile at this time. They are not intended to represent an exhaustive list of all risks. As the macro environment changes and country and industry circumstances evolve, new risks may arise or recede or the rankings of these risks may change according to severity and probability of occurrence.


For investors in Lonmin, the main risk to be aware of is that the Company is a focused producer of PGMs and therefore, while this allows for economies through specialisation, Lonmin does not benefit from commodity diversification. Further, since the commodities Lonmin mines are all from one geographic region, its performance is influenced by the political, social and economic factors that affect South Africa. This includes significant exposure to the US Dollar/Rand exchange rate. As such, volatility in metal prices and exchange rates can have a material impact on the financial performance of the Company, which can be both positive and negative.



Principal Risk



Failure of safety

routines or safety


Could result in a catastrophic loss of life, severely disrupt operations and have a material adverse effect on the Group's financial position.

Commitment from Board and senior management towards creating a safe culture throughout the Group. The Safety & Sustainability Committee monitors the implementation of the safety strategy on behalf of the Board. Processes in place for safe production include:

? Employee engagement strategy and safety training standards, both of which are monitored regularly;

? Clearly defined safety protocols including safe behaviour observations in place;

? Regular third party audits and peer reviews conducted; and

? Balanced scorecard measures incentivise appropriate safety behaviour.

Resource Nationalism

A negative outcome as a consequence of resource nationalism, which can take many different forms, could have a material adverse effect on the Group's future operational performance and financial position.

Ongoing dialogue with key stakeholders and government at all levels to understand and address concerns.

Skills shortages

Lack of appropriate skills could negatively impact upon safety, production and the ability to deliver against targets.

Processes for individual development programmes, succession planning and scarce skills allowances are in place. There is a focus on bursaries, graduate development and mentorship.

Non-delivery of


Could results in deteriorating relationships with stakeholders and place mineral rights at risk.

We engage with all our stakeholders including the South African government. Targets are set and monitored on a regular basis by the Exco, the Safety & Sustainability Committee and the Transformation Committee. The Balanced Scorecard incentivises delivery against certain targets.

Access to secure energy, electricity

and water

Could impact on the ability to run current operations and deliver future expansion plans.

Measurement of energy usage and energy saving initiatives implemented. Load shedding and contractual agreements in place with Eskom (SA energy supplier). Likewise, measurement of water usage and water saving initiatives implemented. Plans aligned with long term strategy. Electricity and water supplies secured for key areas of the business. Active participation in relevant industry bodies.

Failure to deliver on long term capital plans

Shareholder value may not be optimised over the long term.

Strong capital projects department built up to implement long term capital plans. Borehole drilling, magnetic surveys and 3D seismic surveys are conducted to ensure full understanding of the geology on Lonmin properties. Independent peer reviews of the long term plan are carried out. Balanced Scorecard incentivises appropriate reserve development.

US Dollar metal price and currency volatility (specifically US Dollar/ SA Rand)

Significant changes in the supply and demand of PGMs (e.g. if there is product substitution or supply side constraints) can create volatility in PGM prices making long term planning difficult.. Likewise, significant fluctuations in exchange rates to which the Group is exposed can also make planning difficult and have a significant effect on the Group's financial position.

Lonmin gathers market information from a number of sources to monitor market segments and trends in the industry. Longer term volume contracts with key customers mitigate off-take risk. Historically there has been a long term correlation between US Dollar/ SA Rand and PGM basket price, although this can dislocate over short periods. Current policy is not to hedge.

Access to cost effective funding

The Group may not be able to obtain cost effective funding when required which could impact the ability of the Group to meet its liabilities as they fall due.

Headroom and key covenants in banking lines are constantly monitored through rolling cash flow forecasts. The current bank debt facilities were re-negotiated during the year allowing greater flexibility.

Uncompetitive gross or unit costs

Could have a material adverse effect on the Group's competitive position.

Lonmin has a clear understanding of its competitive position and required productivity improvement plans are in place. Balanced Scorecard incentivises cost control.

Poor employee relations due to internal and external factors that could result in strike action

Could result in an unstable workforce that severely disrupts operations and has a material adverse effect on the Group's financial position.

A full engagement strategy with the unions and employees is in place, which is governed through a clearly defined Industrial Relations structure. Recognition agreements are in place.

Poor community relations due to internal and external factors that could result in civil unrest.

Civil unrest could severely disrupt operations and have a material adverse effect on the Group's financial position.

A full engagement strategy with community representatives, unions and employees is in place.

Inadequate smelting performance and back-up capacity

Could severely disrupt operations and have a material adverse effect on the Group's financial position.

The Pyromet furnaces provide an element of back-up capacity. Spare capacity in Number One furnace currently gives some ability to catch up. Number One furnace includes improved monitoring and fault detection technology. The Number two furnace is currently under construction and should become operational in May 2012.

Excessive dilution and poorly optimised plant leading to recoveries not in line with plan

Could have a material adverse effect on the Group's financial position.

Grade targets set and reported. Technical service function reviews management information and quality control of data capture and measurement. Third party audits and peer reviews conducted to guide grade target levels. Plant maintenance programmes ensure plant stability to assist in optimising recoveries. Further investments made to enhance metallurgical recoveries. Experienced management teams and clear benchmarks set. Balanced Scorecard incentivises maximisation of recoveries.

Lack of short term ore reserve development planning

Shareholder value not optimised over the long term.

Performance measured against budget and reported through the Exco to the Board. An on shaft independent technical services function provides support to the mining teams. Balanced Scorecard incentivises reserve development. Internal reviews regularly conducted.

Impact of climate change on the business including the impact of a carbon pricing system

Climate change is an international problem that could lead to devastating consequences which are as yet not completely understood. Coupled with the proposed introduction of carbon taxation it is likely that climate change will have a financial impact upon the business.

Lonmin has a comprehensive Response Strategy to Climate Change in place. This includes operational plans to manage and monitor energy, electricity and water efficiencies and includes participation in climate change forums.

Failure in internal controls or accounting processes

Could severely disrupt operations and have a material adverse effect on the Group's financial position.

Lonmin has a clear organisational structure with appropriate segregation of duties and independent internal and external audits with follow up. The Internal Audit work plan is closely aligned to the risk management framework and risk profile of the Group. From an inventory evaluation perspective, grade targets are set and reported against. Samples are analysed at the assay laboratory. Stock counts are carried out every six months, with the oversight of external and internal auditors. Metals are tracked electronically.





There was one transaction with a related party during the year, other than those of a revenue nature in the ordinary course of business.  This involved the loan of R80 million to Incwala Platinum (Pty) Limited, the Company's BEE partner. 


Note 26   Related parties

The Group has a related party relationship with its Directors and key management (as disclosed in the Remuneration Report and in note 5) and its equity accounted investments (note 13).


The Group's related party transactions and balances are summarised below:








Purchases from joint venture - Pandora



Amounts due from joint venture - Pandora



Amounts due from associate - Incwala



Dividends to minorities - Incwalai



Interest accrued from HDSA investors in Incwala



Subscription paid to the Platinum Jewellery Development Associationii



Purchases made from Xstrataiii



Sales to Xstrataiii



Amounts due to Xstrataiii



Amounts due from Xstrataiii



Amounts due from HDSA investors in Incwala




All related party transactions are priced on an arm's length basis.



i   A Group company has made a series of non-interest bearing loans to Incwala Platinum (Pty) Limited (IP). IP is a substantial shareholder in the Company's principal operating subsidiaries, and is a subsidiary of Shanduka Group (Pty) Limited, a company controlled by Cyril Ramaphosa, a Director of the Company. Advanced dividends in the sums of R25m, R79m, R79m and R80m were made to IP on 28 September 2009, 29 March 2010, 29 September 2010 and 30 September 2011 respectively. IP has authorised the relevant Group company to recover these amounts by reducing future dividends that would otherwise be payable to all shareholders.


ii  The subscription paid by Lonmin is material to the Platinum Jewellery Development Association of which Lonmin is a member.


iii Xstrata Zinc BV has a 24.9% shareholding in Lonmin Plc.




The following responsibility statement is repeated here solely for the purpose of complying with DTR 6.3.5. This statement relates to and is extracted from page 101 of the Annual Report and Accounts. Responsibility is for the full Annual Report and Accounts and not the extracted information presented in this announcement or the Final Results Announcement. 


"We confirm that to the best of our knowledge:


?          the financial statements, prepared in accordance with the applicable set of accounting standards, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company and the undertakings included in the consolidation taken as a whole; and


?         the Directors' Report includes a fair review of the development and performance of the business and the position of the Company and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face.



Roger Phillimore                          




Simon Scott

Chief Financial Officer"



This information is provided by RNS
The company news service from the London Stock Exchange

To unsubscribe from alerts, please visit Lonmin PLC's website.

Lonmin PLC.

ISIN : GB0031192486
CUSIP : 54336Q203
Suivi et investissement
Add to watch list Add to your portfolio Add or edit a note
Ajouter une alerte Ajouter aux Watchlists Ajouter au portefeuille Ajouter une note
de Marché
Projets & res.
de Presse
Profile actifs
Contactez la cie

Lonmin est une société de production minière d'or et de platine basée au Royaume-Uni.

Lonmin est productrice d'or, de platine, de palladium et de rhodium en Afrique Du Sud, et détient divers projets d'exploration au Canada, au Gabon, en Afrique Du Sud et en Tanzanie.

Ses principaux projets en production sont PANDORA JV, LIMPOPO, MARIKANA, EASTERN PLATINUM (EPL) et KAREE MINE (WPL) en Afrique Du Sud et ses principaux projets en exploration sont LUWUMBU en Tanzanie, PANTON en Australie, MESSINA PLATINIUM et WESTERN PLATINUM en Afrique Du Sud et WINDY LAKE au Canada.

Lonmin est cotée au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 21,4 milliards GBX (25,0 milliards US$, 22,3 milliards €).

La valeur de son action a atteint son plus haut niveau récent le 28 août 2009 à 9 964,65 GBX, et son plus bas niveau récent le 28 juin 2019 à 75,60 GBX.

Lonmin possède 282 784 288 actions en circulation.

Votre avis nous interesse, merci de laisser un commentaire ou de noter cet article.
Evaluer : Note moyenne :0 (0 vote) Voir les mieux notés
Dans les médias de Lonmin PLC.
28/05/2019Sibanye, Lonmin create world's largest platinum miner as mer...
21/05/2019Sibanye keeps option to increase Lonmin offer against rival ...
17/05/2019South African court clears way for Sibanye's acquisition of ...
15/05/2019Lonmin likely to cut fewer jobs due to revenue boost – CEO
11/05/2019Lonmin says delays in Sibanye-Stillwater deal to hurt sales
27/04/2019Sibanye agrees to raise offer for Lonmin on metal price gain
26/04/2019Africa's Sibanye-Stillwater lowers valuation for miner Lonmi...
20/12/2018Lonmin's biggest mining union tries to block Sibanye deal
22/11/2018S. Africa competition tribunal OKs Sibanye acquisition of Lo...
22/11/2018S.African watchdog orders six-month hold on job cuts in Siba...
13/11/2018Lonmin workers ask South African tribunal to stop merger wit...
22/10/2018Lonmin in $200m loan deal with state-backed Chinese company
19/09/2018Sibanye -Stillwater, Lonmin still committed to merger after ...
18/09/2018South Africa imposes tough conditions on Sibanye-Lonmin deal
19/05/2018PLATINUM WEEK-Sibanye CEO confident of Lonmin takeover despi...
15/05/2018Lonmin tanks as UK competition watchdog looks into Sibanye t...
25/02/2009Lonmin and Evraz axe 8,500 jobs
24/02/2009Lonmin axes 5,500 jobs
Rapports annuels de Lonmin PLC.
2008 Annual report
Financements de Lonmin PLC.
06/06/2007Makes Private Placement in Wallbridge Mining
Nominations de Lonmin PLC.
03/08/2010Notification of Transactions of Directors and Persons Discha...
17/06/2010Notification of Transactions of Directors and Persons Discha...
Rapports Financiers de Lonmin PLC.
22/07/2010Third Quarter 2010 Production Report
23/07/2009Third Quarter 2009 Production Report
Projets de Lonmin PLC.
01/08/2016Third Quarter 2016 Production Report and Business Update
24/02/2009(Marikana)reaches agreement with unions regarding restructuring at Mar...
Communiqués de Presse de Lonmin PLC.
19/08/2016Lonmin Secures $50m Funding for Tailings Project
02/08/2016Q3 2016 Production Report
02/06/2016Director/PDMR Shareholding
26/05/2016Holding(s) in Company
17/05/2016Half-year Report
17/05/2016Q2 Production Report 2016
17/05/2016Appointment of CFO
19/11/2015Lonmin: stay of execution
12/11/2015Victims of Marikana bloodshed sue ANC's Cyril Ramaphosa
06/11/2015Lonmin shares plunge ahead of crucial fundraising
02/11/2015Lonmin warns of $2bn impairment charges
21/10/2015Lonmin: last chance
21/10/2015Lonmin shares rise as debt restructuring plan is revealed
30/07/2015Lonmin: victim of price falls and management wobbles
29/07/2015Low Prices And Mounting Costs Slam Platinum Producers
24/07/2015Anglo American and Lonmin to cut up to 12,000 jobs
24/07/2015Lonmin Plunges on Funding Concern; Plans to Cut 6,000 Jobs
24/07/2015Lonmin to cut jobs and operations as platinum price falls
23/07/2015PRESS DIGEST- British Business - July 24
14/05/2015Platinum: tarnished
11/05/2015Lonmin to cut capital spending as platinum price fall bites
10/04/2015Moolman confirmed as Chief Operating Officer
05/03/2015Lonmin shares at two-decade low on pay worries
11/02/2015Glencore to divest Lonmin stake, cut expenditure to counter ...
11/02/2015Glencore’s 23.9% stake in Lonmin plc
15/12/2014Issuance of Shares and Total Voting Rights
15/12/2014Operational Update
15/12/2014Director/PDMR Shareholding
03/12/2014Total Voting Rights
28/11/2014Lonmin Completes BEE Transaction
27/11/2014Director/PDMR Shareholding
14/11/2014Director/PDMR Shareholding
12/11/2014Fourth Quarter 2014 Production Report
11/11/2014PRESS DIGEST- Financial Times - Nov 11
05/11/2014Total Voting Rights
25/08/2014Exclusive: Lonmin CEO denies job cuts plan, says focus is on...
11/08/2014Protesters disrupt "massacre" evidence by South Africa's Ram...
11/08/2014South Africa's Ramaphosa defends actions before Marikana mas...
02/04/2013Hemscott News Alert - Lonmin PLC
31/01/2013Hemscott News Alert - Lonmin PLC
16/01/2013Hemscott News Alert - Lonmin PLC
11/12/2012Hemscott News Alert - Lonmin PLC
09/11/2012Hemscott News Alert - Lonmin PLC
29/10/2012Hemscott News Alert - Lonmin PLC
11/10/2012Hemscott News Alert - Lonmin PLC
01/10/2012Hemscott News Alert - Lonmin PLC
17/09/2012Hemscott News Alert - Lonmin PLC
04/09/2012Hemscott News Alert - Lonmin PLC
25/06/2012Hemscott News Alert - Lonmin PLC
06/06/2012Hemscott News Alert - Lonmin PLC
14/05/2012Hemscott News Alert - Lonmin PLC
02/05/2012Hemscott News Alert - Lonmin PLC
02/04/2012Hemscott News Alert - Lonmin PLC
01/03/2012Hemscott News Alert - Lonmin PLC
24/01/2012Hemscott News Alert - Lonmin PLC
09/01/2012Hemscott News Alert - Lonmin PLC
29/12/2011Hemscott News Alert - Lonmin PLC
12/12/2011Hemscott News Alert - Lonmin PLC
02/12/2011Hemscott News Alert - Lonmin PLC
31/08/2011Hemscott News Alert - Lonmin PLC
16/08/2011Hemscott News Alert - Lonmin PLC
24/05/2011Hemscott News Alert - Lonmin PLC
03/05/2011Hemscott News Alert - Lonmin PLC
29/03/2011Hemscott News Alert - Lonmin PLC
27/01/2011production report for the quarter to 31 December 2010
05/08/2010Department of Mineral Resources orders Lonmin to suspend sal...
03/08/2010Total Voting Rights and Capital as at 31 July 2010
13/07/2010Transaction Completion and Directorate Change
24/05/2010Number One Furnace Shut Down Update
04/05/2010Total Voting Rights and Capital as at 30 April 2010
11/03/2010Directorate Change
01/03/2010Total Voting Rights and Capital as at 28 February 2010
28/01/2010Q1 2010 Production Report
04/01/2010Total Voting Rights and Capital as at 31 December 2009
25/11/2009Hemscott News Alert
30/09/2009Update on Incwala Resources
19/08/2009Notification of Directors' and PDMRs' shareholdings
08/07/2009Notification of major interest in shares
02/07/2009Total Voting Rights and Capital as at 30 June 2009
24/06/2009Update on Number One Furnace
17/06/2009Notification of Major interest in shares
04/06/2009Directorate Change
29/05/2009Notifications of Major Interests in Shares
18/05/2009Disclosure of Disclosable Short Position relating to Securit...
10/03/2009Notifications of Major Interests in Shares
29/01/2009Q1 2009 Production Report and Interim Management Statement
05/01/2009Hemscott News Alert - Lonmin PLC
17/12/2008Notification of PDMRs' shareholdings pursuant to Disclosure ...
11/12/2008has included 32,597 shares in the Company
03/12/2008Hemscott News Alert
27/11/2008IFC Invests US$15 million in new Lonmin shares
26/11/2008notification of major interests in shares
19/11/2008Notification of Directors' and PDMRs' shareholdings
18/11/2008Final Results Part 2o
11/10/2007Wallbridge Mining and Lonmin Approve $2.5 million for 2008 S...
Publication de commentaires terminée
Dernier commentaire publié pour cet article
Soyez le premier à donner votre avis
Ajouter votre commentaire
GBX 75,60
28/06 17:35 -
Cours préc. Ouverture
75,60 73,20
Bas haut
72,60 78,80
Année b/h Var. YTD
 -  -
52 sem. b/h var. 52 sem.
- -  75,60 -%
Volume var. 1 mois
12 125 630 -%
24hGold TrendPower© : -44
Produit Platinum
Recherche Gold - Nickel - Palladium - Platinum
Interactive chart Add to compare
Imprimer Comparer Exporter
Vous devez être connecté pour accéder au portefeuille (gratuit)
Top Newsreleases
Variation annuelle
Graphique 5 ans
Graphique 3 mois
Graphique volume 3 mois
Nouvelles des Sociétés Minières
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
0,12 AU$-8,00%Trend Power :
announces expected non-cash impairment
7,62 AU$-0,13%Trend Power :
Oceana Gold(Au)OGC.AX
2,20 AU$+0,00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
3,86 AU$+0,00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
0,12 CA$+4,55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
0,02 CA$+100,00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
7,27 US$-0,68%Trend Power :
Rentech Announces Results for Second Quarter 2017
0,20 US$-12,28%Trend Power :
Reduced Funding Requirement
0,67 GBX+6,35%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
0,06 CA$+30,00%Trend Power :
Closes Bridge Loan Financing
2,13 CA$-0,47%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
1,84 CA$+0,00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
9,41 CA$-3,59%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
0,22 CA$+0,00%Trend Power :
Q A April 2017 Quarterly Report
0,24 AU$-2,04%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
6,80 US$-2,86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
1,44 CA$-4,64%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
46,69 US$-0,13%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
8,66 CA$-0,35%Trend Power :
2nd Quarter Report
0,02 AU$+0,00%Trend Power :