{"id":7003,"date":"2012-01-13T08:37:33","date_gmt":"2012-01-13T06:37:33","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/update-2-lonmin-loses-appeal-over-prospecting-rights\/"},"modified":"2012-01-13T08:37:33","modified_gmt":"2012-01-13T06:37:33","slug":"update-2-lonmin-loses-appeal-over-prospecting-rights","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-lonmin-loses-appeal-over-prospecting-rights\/","title":{"rendered":"UPDATE 2-Lonmin loses appeal over prospecting rights"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* South Africa&#8217;s DMR rules in favour of Keysha<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Lonmin may seek judicial review and compensation<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Jan 12 (Reuters) &#8211; South Africa&#8217;s Department<br \/>\nof Mineral Resources (DMR) has thrown out an appeal by platinum<br \/>\nminer Lonmin over prospecting rights on part of its<br \/>\nmining area.<\/p>\n<p><span><\/span><\/p>\n<p>The DMR awarded rights for base metals minerals on part of<br \/>\nLonmin&#8217;s area to Keysha Investments, which is linked to a former<br \/>\nLonmin director, in May 2009. Lonmin appealed that decision.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Lonmin is confident of its legal position and, given its<br \/>\nview that this decision is procedurally and substantively<br \/>\nincorrect, will take all necessary future measures to protect<br \/>\nits rights, including taking the matter to court for review,&#8221;<br \/>\nthe company said in a statement.<\/p>\n<p><span><\/span><\/p>\n<p>The DMR declined to comment on the Lonmin case.<\/p>\n<p><span><\/span><\/p>\n<p>A source familiar with the situation described the area in<br \/>\nquestion as one of Lonmin&#8217;s &#8220;minor assets&#8221;, adding revenue<br \/>\ngenerated by the associated minerals on the disputed area<br \/>\ntotalled $11 million in 2009.<\/p>\n<p><span><\/span><\/p>\n<p>That compares with Lonmin&#8217;s group revenue of $1.9 billion in<br \/>\nthe 12 months to last September 30.<\/p>\n<p><span><\/span><\/p>\n<p>Lonmin may seek compensation from the DMR and its former<br \/>\ndirector. It said in November it may lodge compensation claims<br \/>\non the basis of expropriation and breach of duties respectively.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* South Africa&#8217;s DMR rules in favour of Keysha * Lonmin may seek judicial review and compensation LONDON Jan 12 (Reuters) &#8211; South Africa&#8217;s Department of Mineral Resources (DMR) has thrown out an appeal by platinum miner Lonmin over prospecting rights on part of its mining area. The DMR awarded rights for base metals minerals [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7003","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7003"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7003\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}