Lonmin Plc has announced that announces that Jim Sutcliffe confirmed his intention to step down from the Board at a date to be confirmed during the current financial year.
In a statement by Lonmin PLC, Mr Jim Sutcliffe, is currently the Company’s Senior Independent Non-Executive Director, and chairs the Nomination Committee and the Remuneration Committee. The process to
identify his successor is underway, and the Company will make an announcement in due course.
Lonmin is one of the world’s largest producer of Platinum with an expansive base in Marikana and Pandora mines in South Africa.
Lonmin is listed on the stock exchanges in London and Johannesburg. The Company engages in the discovery, extraction, refining and marketing of platinum group metals (PGMs) and is one of the world’s largest primary producers of PGMs.
These metals are essential for many industrial applications, especially catalytic converters for internal combustion engine which prevent harmful emissions, and, particularly in China and Japan, where platinum is a metal of choice amongst jewellery manufacturers. The by-products arising from PGM mining include gold, copper, nickel, chrome and cobalt.