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Another court battle is looming in the drawn-out business rescue process of Mpumalanga’s Lily and Barbrook gold mines after business rescue practitioner, Rob Devereux, was accused of doing a “180-degree turn” on publishing plans in favour of a company that has been waiting on the wings to buy the mines. Arqomanzi appeared likely to acquire the mines from Australian company, Vantage Goldfields (VGO), after making a R250 million offer to Devereux, and becoming the major independent creditor of VGO’s subsidiary, Vantage Goldfields SA (VGSA), after convincing Standard Bank to cede VGSA’...

MONEYWEB app instead? Australian group Macquarie Metals comes to rescue of Vantage Goldfields An amended business rescue plan will see all creditors paid within three months. But a court action by a competing bidder may derail the best laid plans. 13:40  Image: Supplied Five years after the collapse of a support pillar that took the lives of three workers at Vantage Goldfields’ Lily mine in Mpumalanga, there’s light at the end of the tunnel for the company. The 2016 tragedy brought an end to mining operations at Lily and its sister mine, Barbrook, which were then placed in busine...

Lily Mine: 5 Years Later and Closing in On Justice Search Polity Note: Search is limited to the most recent 250 articles. To access earlier articles, click Advanced Search and set an earlier date range. To search for a term containing the '&' symbol, click Advanced Search and use the 'search headings' and/or 'in first paragraph' options. With... Clear Search Sponsored by Sponsored by Today, 5 February 2021, marks the particularly sad occasion of 5 years since the collapse of Lily Mine in Mpumalanga.  Yet, despite this sadness, hope remains that the container will be retrieved and proper bur...

Australian mining company Vantage Goldfields (VGO) has thrown a curve ball and frustrated the hopes of reopening two gold mines in Mpumalanga by a company in the forefront of acquiring the business

Abednego Magongo, Harry Mazibuko, Ndumiso Mbandze and Master Mthethwa in the men’s quarters. NATIONAL NEWS - There is a glimmer of hope for ex-Lily and Barbrook mine employees, according to Vantage Goldfields CEO, Mike McChesney. This is nearly four years since the tragedy in which four miners’ bodies were entombed after a shaft collapsed on February 5, 2016. Since then, the mine closed and was placed under business rescue as rescue operations were abandoned. A drawn-out court case between potential buyers and Arqomanzi Proprietary Limited continued. Abednego Magon...