Today's Labour News

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VantageGoldfieldsCity Press reports that Mpumalanga’s Lily Mine will remain closed for now, contrary to reports of a R319 million cash injection from the Industrial Development Corporation (IDC).  

The IDC has denied it approved the amount to reopen the mine owned by Australian company Vantage Goldfields, despite Mineral Resources Deputy Minister Godfrey Oliphant’s announcement about the investment at the Bench Marks Foundation conference last month.  An IDC spokesperson said they had not received any formal application for the investment.  Lily Mine, which is situated in Louisville outside Barberton, was shut down two years ago after the shaft’s crown pillar collapsed and left three workers – who were working in a container office – trapped in the bowels of the earth.  About 1,000 workers subsequently lost their jobs.  Vantage Goldfields put the mine under business rescue, but has struggled to get investors and two potential deals have already fallen through.  Business rescue practitioner Rob Devereux said that he was still talking to potential investors and was currently engaging two South African companies.  National Union of Mineworkers (NUM) deputy president Joseph Montisetsi said the union was disappointed with the lack of progress and believed that the management was imposing undesirable conditions on investors.

  • Read this report by Sizwe Sama Yende in full at City Press


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