Restructured & Bulletproofed--Lonmin restructures empowerment partner Inwala to avoid fragmented BEE ownership of the past

摘要

There were high hopes for Lonmin's Incwala black economic-empowerment (BEE) partner when it was initially put together several years ago. It had the imprimatur of no less a mining maestro than Brian Gilbertson and was guided in the early days by former JP Morgan executive and now Pallinghurst CEO Arne Frandsen. But it buckled under the heat of the global economic meltdown. Now Lonmin CEO Ian Farmer, who was CFO at the time of Incwala's construction, has taken steps to make it bulletproof.