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Article

10 Oct 2014

Author:
Lonmin

So. Africa: Lonmin provides 'question and answer' sheet addressing tax evasion allegations

'Questions and answers', 10 Oct 2014: The Alternative Information & Development Centre (AIDC) recently published data to support its allegation that Lonmin was “systematically” under-pricing the metal it sells...The essence of...these assertions by AIDC is that money was diverted...which should have gone to meet employee salary demands...[The] companies...alleged to have benefitted are part of the Lonmin group, so the ultimate beneficiaries of such “alleged diversions” were the shareholders of Lonmin...The facts are very different...Each year Lonmin details in its sustainability reports the value created by the group and how it was distributed...Th[ese] illustrate that the biggest share of value is directed towards employees...[Also refers to AfriOre, Akanani, Platinum, Incwala, LMS, Shanduka, Western Metal Sales, Western Platinum]

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