Lonmin dismisses allegations by AIDC and Mail and Guardian

23 September 2014, Biznews.com

LonminThe recent allegations made by The Alternative Information and Development Centre (AIDC) and a Mail and Guardian story, of the 19th September 2013, about Lonmin’s historic tax affairs, are false and misleading. Lonmin pays tax fully and properly in all jurisdictions, in which it operates.

Further, the allegation by AIDC’s economist Dirk Forslund, that there were amounts shifted from Lonmin’s South African operations so as not to be used for meeting wage demands, social labour commitments, or be included in taxable income, is false and mischievous. Lonmin’s financials have always been properly audited and the Company has always met with South African tax compliance requirements, this includes the structures referred to by the Mail and Guardian.

Claims made about Lonmin’s empowerment partner, Incwala Resources, are incorrect. The company structures referred to in the article were in place before Shanduka Resources became a shareholder in Incwala. At no point did Shanduka resist changes to these structures.

It is a matter of regret that the Mail and Guardian failed to reflect lengthy answers to detailed questions that Lonmin willingly responded to. The omission of these facts and context from the published story led to unsubstantiated allegations and suggestions which results in an unbalanced and distorted article.

(Visited 22 times, 1 visits today)