NEWS
AFX News Limited.


Lonmin FY profit up, says on course with production target UPDATE

11.16.2005, 04:52 AM - FORBES.com

LONDON - Platinum miner Lonmin PLC said it is on course to deliver its targeted production of 1 mln ounces in 2006 as it reported a 7 pct rise in full year profits.

The group reported a pretax profit of 323 mln usd for the year to September, up from 303 mln a year earlier on turnover of 1.128 bln usd, up from 1.03 bln.

Lonmin will be pressing ahead with efforts to rein in costs next year through its 'Six Sigma' programme which delivered benefits of 206 mln rand in 2005, way ahead of its target of 70 mln rand. Ian Farmer, the chief strategic officer, told reporters it is aiming for another 300 mln rand in gains from 'Six Sigma' this year.

Read the full Story ...

EVENTS
The Global Six Sigma Awards 2005/2006

The winners of the 2006 Global Six Sigma Award were announced at The Gala Awards Dinner and Ceremony on Wednesday June 29th at The Venetian Hotel in Las Vegas.

Best Achievement of Six Sigma in Manufacturing - Lonmin plc was awarded to CS International of Scottsdale, Arizona.
                
CS International from the United States was chosen as the consultants to design, develop and implement the program for Lonmin. The first 24 Black belts were selected in September 2004, and their training started on 18 October 2004.

Lonmins 2006 mid-term results released May 4th 2006 announce Program benefits of R201,000,000.00.

Lonmins Six Sigma program vision for 2010 is “Extraordinary success makes Lonmin Six Sigma the new world benchmark.” Lonmin is well on the way to this.

learn more