Today's Labour News

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VantageGoldfieldsANA reports that Lily Gold Mine has approached the Industrial Development Corporation (IDC) for a loan as part of efforts to raise funds to resume the mission to retrieve the remains of three workers who were trapped underground in February 2016.  

The Mpumalanga mine, which is owned by Vantage Goldfields, is in business rescue.  The three workers were trapped underground when a container which was being used as a lamp-room and in which they were working, fell into a sinkhole created by a collapsed crown pillar.  Rescue operations were launched the same month to recover the three bodies, but were later aborted as the mine was declared unsafe.  Business rescue practitioner, Rob Devereux, said the company needed R300m for its rescue operations.  He said the mission would resume at the end of this month if the company got the money it needed and the approach to the IDC was part of efforts to raise the amount needed.  “The IDC has agreed to support the rescue process,” said Devereux.  All information has been submitted to the IDC and its credit committee will consider the matter on 9 January.  

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