Lonmin transferred millions in platinum revenues to tax-free Bermuda, claims a report released by the Alternative Information and Development Centre (AIDC). The report is named “The Bermuda connection: Profit shifting and unaffordability at Lonmin 1999-2012”. The primary purpose of the report was to work out whether Lonmin could have met the R12 500 wage demand put forward by rock drillers in 2012. Lonmin denied the allegations. Listen to John Capel’s, Executive Director of Bench Marks Foundation, comment on the topic.
Link to the report: http://www.aidc.org.za/media-room/publications/wage-and-profits/viewdownload/9-wage-and-profits/164-bermuda-connection-profits-shifting-and-unaffordability-at-lomnin-1999-2012