Lily awaits R171m in­jec­tion

CityPress - - Business - SIZWE SAMA YENDE busi­ness@city­press.co.za

Lily gold mine in Mpumalanga is still wait­ing for a de­posit of a R171.8 mil­lion in­vest­ment from a Cana­dian com­pany.

Busi­ness res­cue man­ager Rob Dev­ereux said: “The ar­rival of the money [from AfroCan Re­sources Gold] is im­mi­nent. It’s just caught up overseas.”

The Aus­tralian Van­tage Gold­field­sowned mine sus­pended op­er­a­tions in Fe­bru­ary fol­low­ing a col­lapse that re­sulted in a con­tainer of­fice, with three work­ers in­side, plung­ing 60m un­der­ground.

The con­tainer has not been re­trieved.

Since then, the mine has not made money and has been fail­ing to pay its 900 work­ers.

The mine needs R200 mil­lion to open a new shaft to re­sume min­ing.

Dev­ereux con­cluded his res­cue plan last month, which showed the mine had po­ten­tial be­cause it had 4.9 mil­lion tons of ore re­serves that could be mined for 11 years.

The Na­tional Union of Minework­ers has staged a protest march to pres­surise the mine to pay work­ers’ salaries.

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