This 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.
Mining Weekly reports that Canadian gold producer and investor AfroCan Resources Gold and gold producer Vantage Goldfields are continuing to exchange words in a dispute over a failed financing deal.
Vantage has apparently demanded in a legal letter that AfroCan remove a statement posted on its website on 18 July “in its entirety”. But, AfroCan stands by that statement on the Vantage transaction. In response, Vantage CEO Michael McChesney said they had never conducted a media campaign against AfroCan and had “merely informed the media of pending legal action following AfroCan’s breach of contract.”
Vantage, which owns the Barbrook and Lily mines, in Mpumalanga, entered into business rescue in April, after ceasing operations at Lily mine in early February owing to a massive ground collapse, which left three miners trapped underground. A portion of the proposed AfroCan investment was to have been allocated to the reopening of the Lily mine. However, AfroCan withdrew from the transaction and missed the 30 June deadline to pay Vantage an agreed $2.5-million as part of an $11-million investment in the Lily gold mine.
- Read this report in full at Mining Weekly
- Read too, Empty promises derail Lily business rescue, at City Press
Get other news reports at the SA Labour News home page