Platinum producer Lonmin Plc. (LMI.L, LNMIF.PK) Tuesday announced the appointment of Ben Magara as its new Chief Executive Officer and as a director with effect from July 1. He will replace Ian Farmer, who decided to step down in December 2012, as he was undergoing treatment for a serious illness.
Magara is currently the Executive Head of Engineering and Capital Projects at Anglo American Platinum Limited.
At Anglo Platinum, his tenure in all projects has been fatality free, Lonmin said, adding that the Unki Platinum Mine Project, amongst others, ramped up to steady state one year ahead of schedule.
Prior to taking up that role, Magara was the Chief Executive Officer of Anglo Coal South Africa. He was responsible for Anglo American's total coal business in South Africa with revenues of around $2 billion.
Magara has a 22 year career at the leading edge of the mining industry, including several positions within the Anglo American Group.
''During his mining career he has shown an exceptional operational ability spanning mining supervision, management and leadership. Ben has also demonstrated an ability to work proactively and extensively with unions, government, and communities,'' Lonmin said in a statement.
Magara is a Zimbabwean national and has been resident in South Africa for the last 19 years.
Simon Scott, who has been acting CEO since August 2012, will resume his role as Chief Financial Officer when Magara joins.
LMI.L is down 0.7 percent at 288.80 pence.
For comments and feedback: editorial@rttnews.com