Lonmin Plc (LON:LMI), the third largest and lowest cost producer of Platinum Group Metals (PGMs) has appointed Simon Scott as its new CFO. He will take over in mid November from Alan Ferguson. Simon Scott is currently the financial director of JSE listed Aveng group, a South African construction company.
Mr. Scott is a member of the South African Institute of Chartered Accountants. He will quit as the financial director of Aveng on 26 September 2010 and join the board of Lonmin as an executive director on 27 September 2010. The 52 year old Scott is set to take over operations for Lonmin in Johannesburg.
Lonmin had announced in October last year that it would be moving its operational headquarters from London to Johannesburg. It was a concentrated effort on behalf of the Platinum mining company to bring the executive management team closer to its mining operations.
Lonmin at a glance
- World's third largest primary platinum producer
- Mines in South Africa from which ore mined and concentrated before being processed through smelter and refineries to deliver finished metals to the market
- No. of full time employees around 22,000 (yr ending 30 September 2009)
- Primary listing on LSE, also on JSE
- 663,101 ounces of Platinum in concentrate (1.3m ounces of total PGMs) produced and 682,955 ounces of Platinum (1.3m ounces of total PGMs) sold (yr ending 30 September 2009)