Lonmin : The End

ArticleMiningDecember 19, 2017 - 10:05:34 AM

While struggling for survival, the world's third largest platinum producer has just announced its acquisition by Sibanye Stillwater, one of the top 10 gold producers in the world.

After years of near-death experiences, the story of Lonmin Plc is finally over. The company, one of Britain’s most prominent conglomerates of the 20th century, agreed to be bought by Sibanye Gold Ltd., a four-year-old miner run by Neal Froneman, who earned the nickname ‘Mr Fix-It’ for his turnaround successes in the 1990s. The deal will be an all-share transaction valued at 285 million pounds ($383 million).


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