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Lonmin nominated for worst company

Jan 04 2013 11:10 Sapa

(Felix Dlangamandla, Beeld)

Company Data

Lonmin plc [JSE:LON]

Last traded 31.06
Change -0.11
% Change 0.00
Cumulative volume 1406945
Market cap 17.72bn

Last Updated: 24/10/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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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.

 

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