Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

newsANA reports that Lily Gold Mine – where three workers were trapped underground in Barberton in February 2016 when a lamp-room container they were working in fell into a sinkhole – has secured R300m funding, but will resume rescue operations next year.  

According to business rescue practitioner, Rob Devereaux, the company has secured R190m from the Industrial Development Corporation (IDC) and R110m from other unnamed new investors.  He indicated:  “We have signed agreements but there are certain conditions that must be met before the money flows in.  Once the money comes in, we will start developing a new shaft and open the mine in July.  The search for the remains of the trapped miners will resume a year later for safety reasons.  This is because we still have to develop a new shaft and be able to see where the container is before we can resume the search.”  The previous shareholders of Lily mine were leaving the company and the new shaft would be developed by an entity called SSC Group, added Devereaux.


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