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Dual-listed Lonmin has advised that further to its update to the market on 2 April 2013, its new CEO Ben Magara has formally assumed his role on 1 July 2013.

Roger Phillimore, the chairperson of Lonmin, said: “I would like to officially welcome Ben aboard. He brings with him a wealth of experience in mining. Ben is a proven leader at the highest levels and has an impressive record of delivery throughout his career. He is the right man to take Lonmin forward, building on our core operational strengths and proud safety record.”

“I am delighted to be joining Lonmin at this important time. I will be spending my initial weeks getting to know the company but what is already clear to me is that Lonmin has excellent assets, and I look forward, with my management team, to identifying opportunities to optimise value for all our stakeholders,” added Magara.

Meanwhile, Lonmin also announced that repairs to the number 2 furnace, which had been taken offline after a fault with the roof, have been completed as planned. The first matte tap occurred on 25 June, 2013, and the furnace is now running at 5MW as the process of heating continues.

The number 1 furnace had its first matte tap on 13 June 2013, also within the planned timeframe and is running at a stable rate.

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