South Africa: Bapo Ba Mogale Community Loses Out in Lonmin Deal

4 December 2014

It has taken Lonmin Plc a decade to cut the Bapo ba Mogale community a 3.3% slice of the company that mines platinum on its land. In the same period, Lonmin has served up an ownership share more than five times bigger to Shanduka Resources - a black empowerment company founded by ANC stalwart Cyril Ramaphosa - and sauced it with a series of loans and dispensations to keep it fresh.

It was well past the eleventh hour when Lonmin, the world's third-largest platinum producer, confirmed last week that it had achieved the 2004 Mining Charter threshold of 26% black empowerment.

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