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Bloomberg reported that Lonmin’s newly appointed CEO Ben Magara is seen struggling to restore platinum output and repair the company’s reputation after a 6-week strike at the company’s mine which led to numerous casualties.
Bloomberg reported that Lonmin’s newly appointed CEO Ben Magara is seen struggling to restore platinum output and repair the company’s reputation after a 6-week strike at the company’s mine which led to numerous casualties.
As quoted in the market news:
Even with a new CEO in place, the challenges are significant,” Ben Davis, an analyst at Liberum Capital Ltd., said in a note to clients. “Coupled with Lonmin’s lack of operational diversification — one major asset at Marikana — Lonmin is most likely to underperform in the coming months.