Lonmin appoints new chief financial officer

Platinum producer Lonmin has appointed Barrie van der Merwe as chief financial officer with effect from 17 May.

The company announced last week that Simon Scott was stepping down to pursue other interests following the successful completion of last year’s fundraising.

Van der Merwe was CFO of rough diamonds producer Debswana Diamond Company – a joint venture between the Botswana government and De Beers – from 2012 to 2015. Prior to that, he held several senior financial management positions with Anglo American and Anglo Platinum, spanning 10 years between 2002 and 2012. Most recently, he was head of finance at AngloPlat.

Chief executive officer Ben Magara said: “Barrie brings with him extensive experience in the mining industry and as a hands-on leader. I am excited to welcome him and I have no doubt he can bring that experience to bear at Lonmin."

Back in December, the beleaguered miner reported a 71% take-up of its heavily-discounted $407m rights issue, as it looked to stay afloat amid declining commodity prices.

At 1158 BST, Lonmin shares were up 5.7% to 166.25p.