The new owners of Lily and Barbrook Mines in Mpumalanga say they are ready to resume operations after nearly three years of non-activity.
New majority shareholders of Vantage Goldfields SA have accused a creditors committee of having a “devious” plan to liquidate the company, despite their advanced plan to reopen two Mpumalanga gold mines.
The last minute failure of a proposed acquisition of the Lily and Barbrook mines has put the whole community once again in uncertainty, says a union.
Without the bodies of their loved ones, the families of the three victims of the Lily Mine disaster will not find closure, Sanco has said.
Australian company Vantage Goldfields needs a further R100 million bailout after its second Mpumalanga mine was placed under business rescue last month.
The liquidation of Vantage Goldfields SA has been postponed for another two months – giving the new company owners a chance to convince creditors that they are ready to reopen two Mpumalanga mines.
A local minerals and investments company has signed a R190m loan with the Industrial Development Corporation to acquire a 74% stake in the cash-strapped Vantage Goldfields SA to reopen two Mpumalanga mines.
Mineral Resources Minister Mosebenzi Zwane and Mpumalanga Premier David Mabuza have held talks with management of Lily Mine to discuss the recovery of the bodies of Yvonne Mnisi, Pretty Nkambule, and Solomon Nyirenda.
Vantage Goldfields mines closure has crippled informal business in Louisville, near Barberton, as the unemployed simply cannot afford to pay bills.
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