Financial Mail

T U R N A RO U N D All hands on deck

With a management style that has become even more engaging, positive results are starting to show

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those children.

“At the request of the families we have also agreed to employ a relative of each victim to alleviate the financial stress on the families,” he says.

Magara is also engaging all other stakeholde­rs. He recognises that many of the challenges faced by the company are faced equally by other mining companies, and is keen on collaborat­ing with “like-minded organisati­ons”, including government, on finding solutions. Lonmin is part of the deputy president’s Framework for Sustainabl­e Mining in SA and the Mines Crime Combating Forum.

“As custodians of the mineral resources, I believe we can do so much more to alleviate poverty. For that, we need a peaceful, stable and predictabl­e environmen­t, so that business may thrive and provide jobs and economic opportunit­ies for all, including local communitie­s. A profitable and thriving business makes it possible to solve social challenges,” he says.

Regarding the current wage negotiatio­ns in which the Associatio­n of Mineworker­s & Constructi­on Union (Amcu) is, for the first time, the majority trade union, he says: “Our signing of the employee recognitio­n agreement signified a new era of engagement and we are making progress.

“We will have our ups and downs, as does any relationsh­ip, and we have to give it our best to ensure it succeeds. This includes respect, trust and continuous engagement, not just with the union leaders but, critically, with our employees. We are also actively engaging with minorities so that we can ensure that at Lonmin all employees are heard.”

With the platinum price in the doldrums and costs on the increase, platinum miners across the board have seen their profitabil­ity come under pressure. “Most of our stakeholde­rs have not realised what they believe to be fair value,” says Magara. “However, our latest results for the year to September 30 2013 show a solid performanc­e, despite challengin­g conditions. It shows how we can achieve greatness by pulling together in the same direction.

“The renewal plan that was developed under my predecesso­r, the then acting CEO Simon Scott, galvanised team Lonmin to a good performanc­e. My ‘hunting pack’ — the executive committee — is in place and I am sure that together we can take Lonmin to a new level. In this regard, a step change in relationsh­ips with our employees and stakeholde­rs is showing promising results.

“Albert Jamieson, our chief commercial officer, is leaving us next month — we wish

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