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Vantage needs R100m to keep Barbrook open

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Johannesburg - Australian company Vantage Goldfields needs a further R100 million bailout after its second Mpumalanga mine was placed under business rescue last month.

Vantage Goldfields' Lily Gold Mine in Louisville near Barberton was the first operation to be placed under business rescue last year following the collapse of a shaft on February 5 that killed three workers who were in a container office that plunged 60m underground.

The company immediately mothballed Lily Mine pending a search for an investor who could inject R200 million for a new shaft to be constructed so that the container could be retrieved and operations could resume.

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