Sun May 26 10:33:55 SAST 2013

Troubled platinum miner Lonmin appoints acting CEO

Aug 24, 2012 | Reuters | 42 comments

Chief executive is undergoing treatment

Comments

Sun May 26 10:33:55 SAST 2013 ::
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Aug 24, 2012

Flemza

Lonmin to save your self from grieve , just Appoint Malema as acting CEO until this saga is over then all problems are solved , miners won`t return to work and you will have to pay them R12 500,00 per month whilst sitting at home and NUM will end to exist at your mine , please take my advise appoint Malema as acting CEO , all your problems are over
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Aug 24, 2012

cornelius

Lonmin is in a lose lose situation.

This is an opportunity for the Malemas of this world to explain exactly how nationalisation would work - how the state can take over this mine and run it more profitably, while paying higher wages, and still somehow alleviating the poverty in this country.

Come on Juju, Floyd, this is your chance, give us the business plan !!
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Aug 24, 2012

MommaC

Geez, talk about a poisoned chalice. Good luck Simon Scott, you are going to need it.

If this isn't resolved soon, I don't see Lonmin surviving. Then there are going to be an awful lot of miners reliving the Aurora saga.
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Aug 24, 2012

DJ-Winner

@cornelius...You seem to have a soft spot for them. Let them go. We will get some Chinese_...I like Chinese_....Chinese_ are fair...
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Aug 24, 2012

Tabza325is

@cornelius, As much as nationalisation wont work under the ANC govt, what do you suggest should be done since the rest of the country is benefiting nothing from the mineral resources of this country, only a few wealthy people in this world are benefiting from all of this, I agree nationalisation wont work since the people in power themselves are as money hungry as the wealthy of this world, what should be done?
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Aug 24, 2012

MommaC

Tabza325is

I would suggest the model used by Royal Bafokeng Mining but they are having a strike too.

Maybe educating people about just how expensive it is to get the minerals out of the ground and using the minerals to create manufacturing jobs HERE so that one miner isn't supporting 12 relatives?
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Aug 24, 2012

Tabza325is

@MommaC, how do you educate people on how expensive mining is when the owners and share holders are making so much money, everybody can see the money is there but it's filtering through to the public or the communities around this mines, I would expect some of this areas around this mines to be more developed than a standard township in SA...
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Aug 24, 2012

MommaC

Tabza325is

Lonmin is a listed company. That means that their financials are open to public scrutiny. Go look at them. They are scary reading. It is no wonder Ian Farmer is sick - I would be too
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Aug 24, 2012

Sinudeity_

Tabza325is - What do you mean the rest of the country isnt benefitting from the mines?

Part of the 1 trillion ANNUAL budget is generated from the hundreds of millions taxed from the mining companies.
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Aug 24, 2012

MommaC

Oh, and it now turns out that the majority of the people who were mowed down by the cops, didn't even work at the mine. They were 'job seekers' from the nearby squatter camp (apparently).
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Aug 24, 2012

cornelius

Soweatan, why are you blocking my comments - mild comments trying to answer DJWinner and Tabza ??
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Aug 24, 2012

cornelius

Sowetan is the best newspaper in the world
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Aug 24, 2012

cornelius

Sowetan stinks
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Aug 24, 2012

Tabza325is

@Sinudeity, but look at the the communities around this mines most of them are in proverty, this is why I say I would expect those communities around mines to be more developed that a standard township in SA...
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Aug 24, 2012

Sinudeity_

cornelius - You are trying to use a word that is on the banned list. Things like fr33, buuurn, w3alth, @frikaner, b03r, bl@cks, wh1tes are banned words and will prevent a comment from being published.
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Aug 24, 2012

Tabza325is

@cornelius, you are too emotional come down and rethink you post.
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Aug 24, 2012

MommaC

Tabza325is

Housing is provided for mine workers or they can use their housing allowance to get accommodation somewhere else. Many of the miners claim that they send the housing allowance money home to their wife and 6 kids and then stay in a shack. Can't see how anything the mine does can solve that problem
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Aug 24, 2012

Tabza325is

@MommaC qoute"On Wednesday, Zuma demanded that mine companies provide decent homes and sanitation for miners. He singled out one mining house where 666 workers share four toilets and four showers, according to the Star newspaper. He did not name the company."

also did you see the area those people live in it's like a desert or some old dusty cowboy farm.
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Aug 24, 2012

cornelius

@ DJWinner. T.he. C.hinese. a.re wors.e w.hen i.t co.mes t.o hum.an an.d wor.kers righ.ts. Hear.d of ch.ild la.bour, swe.at sho.ps ? Conc.ept of h.uman ri.ghts com.es fro.m th.e We.st. Now censor that !
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Aug 24, 2012

Sinudeity_

cornelius - The banned word in your sentence is 'sh0ps'.
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Aug 24, 2012

MommaC

Tabza325is

Well if Susan got off of her fat behind and did her job, that would never happen. The mining licences are dependant on a bunch of factors such as community upliftment programmes, housing, schooling and many more. Why are some mines being made to adhere to the law and others are not? It would also be interested to know if the accommodation quoted in the Star was mine accommodation or private accommodation?
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Aug 24, 2012

cornelius

@ Tabza 325is I am not an expert but try to use common sense

The minerals belong io the state, so the fre.edom charter is satisfied in my opinion.

The mines pay a lot of money to the state for mining licences, and massive taxes as well - this is how the wealth of the soil is supposed to benefit ' the people "

Nobody gets any benefit i fthe mines are not run by experts, which is why gove.rnments allow mining companies. The companies also tak e the financial ri.sks - economic downturns, loss of demand, etc.

How to maximise the financial benefits to " the people" even more ? I don' tknow, maybe even higher taxes - just high enough to still make it worthwhile for the companies, bu ta little bit less profit for their shareholders. The state can also of course buy ( not take - that would drive share prices down) shares.

Our labo.ur laws compare with the most favourable for workers in the world. Strike action can and should be used in a legal manner to prevent workers abu.se - but you will have to look far and wide for more favourable labour laws than ours.

Sowetan still stin.nks - i have wasted a lot of time now.


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Aug 24, 2012

cornelius

shops shops shops shops
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Aug 24, 2012

Tabza325is

@cornelius, qoute"The violence unfolded as some 3,000 rock drill operators demanded a minimum wage of 12,500 rand ($1,560). The poorest 10 percent of the population shares 1.1 billion rand ($137.5 million) while the country’s richest 10% has 381 billion (nearly $48 billion), the Congress of South African Trade Unions noted Thursday"
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Aug 24, 2012

MommaC

Tabza325is

So what is your solution?
Throw out the top 10% so we have a better Gini coefficient score?
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Aug 24, 2012

Mwelase

Izinyembezi Zabantu aziweli phansi, CEO has got heart attack because they have dirty profits in their hands. More to come we are waiting to hear those hidden agenda's.
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Aug 24, 2012

Tabza325is

@MommaC
Tabza325is

So what is your solution?
Throw out the top 10% so we have a better Gini coefficient score?

Then the police will shoot us all to protect the 10%...

"In many research and we@lth reports, estimates reveal that 2% of world population own around 50% of world wealth, and around 8% of world population owns more than 85% of world we@lth."
https://www.ted.com/conversations/13430/minority_of_the_population_own.html

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Aug 24, 2012

cornelius

@Tabza

It may soiund cynical and heartless, but the reality is that the unedu.cated uns.killed or semi skilled people in Any country, will be forced to do manual labour and find themselves at the bo.ttom of the ladder, that is why education should have been the absolute priority of this govenrment from 1994 . To redress the imbalan.ces of the past in the quickest manner, huge amoutns of money, resources , time and effort should have gone to the schools in disadva.ntaged areas, teacher training, scholarships, etc. The advantaged people and schools would hav ebeen quite prepared to take a bit of a back seat, for such a cause. But the ANC and SADTU have bu.ggered up education for every body.
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Aug 24, 2012

MommaC

Tabza325is

That was the whole point of the protest against Wall Street.

It has also been speculated that if you equally shared out all the money in the world, it would all be back in the exact same hands as it was originally within two to five years.
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Aug 24, 2012

DJ-Winner

cornelius
@ DJWinner. T.he. C.hinese. a.re wors.e w.hen i.t co.mes t.o hum.an an.d wor.kers righ.ts. Hear.d of ch.ild la.bour, swe.at sho.ps ? Conc.ept of h.uman ri.ghts com.es fro.m th.e We.st. Now censor that !
............................................................
Well, everyone seems doing business with them these days in Africa. I feel there is advantage. Even Clinton was whining about it during her visit to Africa, as US losed out....
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Aug 24, 2012

cornelius

@ Tabza - I am also against obscene wealth and I think that there should be a massive tax on the extremely wealthy. Nobody needs to earn more than R 10 Mill a year - if you want that - sommer 50 % tax for you. Actually, I would also not be against an ' apart.heid tax" say anyone with assets exceedind R 10 mill, must pay a once off 1 % tax, for every R 10 mill of assets, to be used for poverty alleviation - it will be a lot of money. Problem is, the hatred for wh.tes, guilt trips thrown at us will never stop, even if such a tax is paid. The fact that the previously adnantaged are even now paying some o fthe highest taxes in the world certainly hasn't stopped the guilt trips.
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Aug 24, 2012

MommaC

cornelius

UK tried that in the 1970's. All the rich folk just went somewhere else.
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Aug 24, 2012

candilious

MommaC
Oh, and it now turns out that the majority of the people who were mowed down by the cops, didn't even work at the mine. They were 'job seekers' from the nearby squatter camp (apparently).
___________________________________________________THATS WHY THE fATBOY IS ALL OVER THIS.........do you suspect foul play yet ???
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Aug 24, 2012

MommaC

candilious

I suspected foul play from day one.
Is it the podgy purple pedi or the unions? or is it a team effort?
That is what I'd like to find out before more people lay dead
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Aug 24, 2012

candilious

@MommaC-Strange but true hey .....to many loop holes here..........Simon my deepest sympothy to you ...........
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Aug 24, 2012

Moffdat

This guy was already CFO what makes them think anything is going to change. Mara nyaope ja bolaya
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Aug 24, 2012

Tobby

How can they say people should go back to wor????????? are these people not mourning?????? they have lost their loved ones, can it be a collegue, brother, father, son, uncle, friend even a neighbour you must mourn with them. This is worse because these people were there, wittnessing people being brutally killed is really a serious matter, no one can tollerate that. instead of finding them conselors to counsel them they say they must work. Money comes first they don't care about the workers health and their loved ones. the deceased are not even burried but workers must go back to work while some have lost their real blood, are Lonmin bosses really healthy or sick, yes they are suffering but if all can say we are not ready to start working no new employees will be hired because they know they will die. LONMIN GIVE OUR BROTHERS A BREAK PLEASE THEY ARE STILL MOURNING, you fucken greedy bosses.
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Aug 24, 2012

IamGoodAndYou?

"........while chief executive Ian Farmer pursues a course of treatment for an unspecified illness"

ahaaa!!! when the going gets tough, the tough get going......true that
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Aug 24, 2012

Tabza325is

@cornelius, I agree in that education is the key, but sadly this means the current generation will die poor since those that find themselve in porverty are unskilled and uneducated. Last time I checked the most Educated countries in the world is South Korea then comes Finland, Canada, New Zealand and Japan, SA is no were in the world ranking, marking the question how many generations do we have to go through if we are to rely on education to up lift people out of porverty.
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Aug 24, 2012

Papage

Look at him, he looks fresh and yet workers look like they haven't eaten for weeks
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Aug 24, 2012

cornelius

@ Tabza, yes the time factor is a problem. Already a generation has been lost. But still it has to start at some point - NOW is the best time and the ANC should be forced by their consituency to ge teducstion right at the rsik of losing the vote. But is seems to me that , for all the lip service, the politcal will is not really there, Zuma appointed Angie becaus eHE needs the supprot of the ANC Womens League, not because she is an education expert. You know, I personally don't care who the heck runs this country as long as they do it effiently, using real experts where necessary, etc.
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Aug 24, 2012

VENDALIOUS

THIS NEW ACTING CEO DAZ HE HAVE A NAME?
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