Magara is new Lonmin boss
Windhoek – Lonmin Plc, the world’s third-largest platinum producer, has appointed Ben Magara as its new CEO, with a brief to turn around the fortunes of the mining company which suffered a knock following the death of 46 people at its Marikana mine last year.
Prior to his appointment, Magara, who will start work in July, was executive head of engineering and capital projects at Anglo American Platinum.
He has also been CEO of Anglo American’s coal business in South Africa.
Magara, a Zimbabwean, has 22 years experience in the mining sector and is an engineer by profession. He faces his biggest challenge turning around Lonmin, and improving the image of the global miner, after violent strikes last year resulted in the massacre of 34 workers by South Africa police.
“Our renewal plan is on track and progress is being made towards the better definition and achievements of our initiatives to improve both the working and living environment of all Lonmin employees for the benefit of all stakeholders and shareholders,” Lonmin chairman Roger Phillimore said.
“The board is confident that Magara’s extensive experience in working in South Africa and the mining community, his relationship and his demonstrated success in proactive relationship building with all stakeholders will drive Lonnim forward,” Phillimore said.
Lonmin in December 2012 raised US$817 million through a rights issue to stave off a breach of contract with creditors, following a wave of strikes which cost the company 110 000 ounces of platinum in lost production.
“Lonmin is a company with excellent assets. I am excited at the prospects of leading team Lonmin and contributing to making a positive difference. 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,” Magara said.
Lonmin is listed in Johannesburg and London.