Last 232.10 GBp
Change Today +1.70 / 0.74%
Volume 364.0K
As of 6:35 AM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

lonmin plc (LMI) Snapshot

Open
225.10 GBp
Previous Close
230.40 GBp
Day High
233.70 GBp
Day Low
225.10 GBp
52 Week High
11/11/13 - 358.80 GBp
52 Week Low
07/10/14 - 216.40 GBp
Market Cap
1.3B
Average Volume 10 Days
2.3M
EPS TTM
-0.18 GBp
Shares Outstanding
569.5M
EX-Date
01/9/14
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for LONMIN PLC (LMI)

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lonmin plc (LMI) Details

Lonmin Plc discovers, extracts, refines, and markets platinum group metals in South Africa, the Americas, Asia, and Europe. The company explores for platinum group metals, including platinum, palladium, rhodium, iridium, ruthenium, as well as gold, nickel, chrome, and copper ores. It principally holds interests in the Marikana mine located on the Western Limb of the Bushveld complex in South Africa. The company was founded in 1909 and is headquartered in Johannesburg, South Africa.

28,239 Employees
Last Reported Date: 11/10/13
Founded in 1909

lonmin plc (LMI) Top Compensated Officers

Chief Executive Officer, Director, Member of ...
Total Annual Compensation: 674.0K GBP
Chief Financial Officer and Executive Directo...
Total Annual Compensation: 1.2M GBP
Compensation as of Fiscal Year 2013.

lonmin plc (LMI) Key Developments

Impala, Anglo And Lonmin Reportedly Mull Sale Of Platinum Mines

Impala Platinum Holdings Ltd. (JSE:IMP), Anglo American Platinum Limited (JSE:AMS) and Lonmin plc (LSE:LMI) are reportedly considering closing or selling platinum mines in South Africa after a five-month strike decimated output and left some sites potentially unsafe. Neal Froneman, Chief Executive Officer of Sibanye Gold Limited (JSE:SGL) said the inequality, violence, high costs and low productivity that plague South Africa’s mining industry are creating an opportunity to buy platinum assets on the cheap. “We have five targets that we’re actively working on,” Froneman said in an interview. “We’re one of the very few companies that has the operating credibility to do this and the capacity to do it.” Froneman is looking at mines valued by their owners at about ZAR 5 billion ($467 million) to ZAR 10 billion. He doesn’t plan to pay that much.

Lonmin plc Signs Multi-Year Wage Agreement with Association of Mineworkers and Construction Union

Lonmin plc announced the settlement of the negotiations with the Association of Mineworkers and Construction Union or 'AMCU' about wages and conditions of service. Employees are expected to return to work on Wednesday 25 June. The three-year agreement will end the five-month strike, which has crippled the South African platinum industry. The agreement is effective from 1 October 2013 to 30 June 2016. As per the agreement, Overall, the lowest underground basic salary will increase by ZAR 1,000 per month for each year; Employees in C-band will receive increases of 8% in year 1 and 7.5% for years 2 and 3; The living-out allowance will increase from ZAR 1,950 to ZAR 2,000 per month in year 1 and be kept constant thereafter for the period of the agreement. As is normal in backdated agreements, all employees will receive, within 7 working days of their return to work, the back pay due to them from their 2013 increase date until 22 January 2014, the day prior to the start of the strike; and Going forward, the company has agreed to alter the anniversary date of its annual wage increases for all non-management employees to 1 July from 1 October in order to align with industry peers.

Anglo American Platinum Limited, Impala Platinum Holdings Limited and Lonmin plc Receive Written Feedback from Association of Mineworkers and Construction Union

Anglo American Platinum Limited, Impala Platinum Holdings Limited and Lonmin Plc can confirm that each company has received written feedback from Association of Mineworkers and Construction Union president Joseph Mathunjwa. This follows an 'in principle' agreement reached between the companies and AMCU leadership last week. AMCU committed to take this agreement to their members at the various mass meetings to receive a mandate from their members to sign an agreement. The letters received from AMCU confirmed that the union had received a mandate from its members to finalize agreements with the companies that would bring an end to the five-month strike. The letters raise various procedural issues, such as the timeframe of proposed agreements, which the companies are willing to discuss with the union leadership. Regrettably, however, the letters also contain new and additional demands which, if granted, would mean huge additional costs -of around R1 billion in aggregate - to the companies, beyond the increases contained in the 'in principle' agreements. The companies simply cannot afford the additional wage demands. Engagement with AMCU on their latest demands is ongoing. The goal remains a sustainable solution beneficial to all stakeholders. The companies confirm that there has been a return to the platinum belt region of large numbers of employees who have spent the strike period elsewhere.

 

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LMI Competitors

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Company Last Change
African Barrick Gold PLC 245.40 GBp -0.30
Centamin PLC 74.55 GBp +1.10
Lundin Mining Corp C$6.11 CAD +0.02
OZ Minerals Ltd A$4.78 AUD +0.07
Stillwater Mining Co $18.32 USD +0.06
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Industry Analysis

LMI

Industry Average

Valuation LMI Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.6x
Price/Book 0.7x
Price/Cash Flow 48.2x
TEV/Sales 1.6x
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