• Dangerous games

    Employers' body Neasa is playing a potentially dangerous game, says Terry Bell.

  • Rational thinking

    All players should first consider the net result of their actions, says Leopold Scholtz.

  • Telkom's property poser

    BEE may be hindering Telkom's plans to offload redundant real estate, says Gugu Lourie.

Data provided by iNet BFA
Loading...
See More

Lonmin nominated for worst company

Jan 04 2013 11:10 Sapa

(Felix Dlangamandla, Beeld)

Company Data

Lonmin plc [JSE:LON]

Last traded 41.67
Change -0.84
% Change -0.02
Cumulative volume 583963
Market cap 23.69bn

Last Updated: 31/07/2014 at 02:55. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Lonmin CEO steps down

Lonmin denies taking back bonuses

Lonmin builds R10m clinic in Limpopo

Questions over Lonmin exec skills

Lonmin warns future at stake

Lonmin seeks CEO to revive fortunes

 

Johannesburg - Lonmin [JSE:LON] has been nominated as one of the world's worst companies of 2012, environmental organisation groundWork said on Friday. 

"This submission was based on the human rights violations and environmental destruction that the corporation has carried out since the establishment of its mine in the Marikana region," said groundWork director Bobby Peek. 

Lonmin's name was submitted by groundWork and the Bench Marks Foundation for the Public Eye Awards. 

The awards are a regular feature on the sidelines of the World Economic Forum (WEF) meeting and are conducted by civic organisations from across the globe. 

This year the WEF meeting will take place in Davos, Switzerland from January 23 to 27. 

Other companies short-listed for the Public Eye Awards include G4S, Repower, Alstom, Shell, Coal India and Goldman Sachs. 

On August 16 last year 34 people died when police opened fire on striking miners in Marikana, North West. 

Another 10 people had been killed the week before and 78 miners were injured during the strike, which lasted six weeks.

The miners were demanding salary increases from the world's third-largest producer of platinum. 

"Mines such as Lonmin need to stop obsessing with cutting costs, which is usually at the expense of the environment, labour and communities. 

"They continue to find ways to shift their social responsibilities. Often this turns into protests such as those we experienced in Marikana," said John Capel, director of the Bench Marks Foundation. 

Lonmin spokesperson Barnard Mokwena said the company was not aware of the Public Eye Awards nomination.

"We do not know the criteria used during the nomination and we were not consulted. As a company we cannot comment on the nomination," he said.

 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

lonmin
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
10 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

Investment portfolios explained

When it comes to choosing savings and investment products it can seem like an endless universe of options. FutureGuide demystifies.

 
 

Start saving...

Where can you stash your cash?
Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...