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Release of Lonmin financial records delayed

Johannesburg - Lonmin [JSE:LON] Platinum has delayed the release of a report which will show what the company's financial position was during the violent wage-related unrest at its Rustenburg operations in August 2012, the Business Day reported on Thursday.

The report was compiled by research and analysis organisation Alternative Information and Development Centre (AIDC).

Among other things, the report would deal with whether Lonmin had used Bermuda's tax-haven status to maximise profit and keep it away from the demands of its employees and the SA Revenue Service.

READ: Platinum strike in a nutshell

On Wednesday, a press briefing arranged by AIDC and intended to discuss the report as well as the Farlam Commission of Inquiry which is probing the deadly unrest, was cancelled by court order.

This was after Lonmin and AIDC reached an agreement.

The agreement was that the report would not be released without two days' notice, AIDC director Brian Ashley told the paper.

This notice could also be subject to court proceedings.

READ THIS NEXT: Lonmin swings back to full production

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