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Location: 25 km NE from Barberton, South Africa
Level 11, 151 Macquarie StreetSydneyNew South Wales, Australia2000
Stay on top of the latest gold discoveries. Examine the latest updates on drilling outcomes spanning various commodities.
Mining scale, mining and mill throughput capaciites.Full profiles of select mines and projects.
Shaft depth, mining scale, backfill type and mill throughput data.Full profiles of select mines and projects.
Equipment type, model, size and quantity.Full profiles of select mines and projects.
Camp size, mine location and contacts.Full profiles of select mines and projects.
2 June 2025, some 99% of creditors voted and accepted proposed amendments to business rescue plans that grant Hong Kong-based Ultra Concept majority control of the mines.
Part of the rescue plan includes payment of about R320 million in creditor claims, including nearly R32 million for former workers.
The rescue of Vantage was bedevilled by years of litigation, most of it between Australian-backed Vantage Goldfields and Arqomanzi, when it purchased Standard Bank’s loan claims against Vantage, making it the largest creditor.
Two creditors, Siyakhula Sonke Empowerment Corporation (SSC) and Train the Nation & Associates (TNN), brought a liquidation application against the three companies under business rescue – Vantage Goldfields, Barbrook Mines, and Makonjwaan Imperial Mining Company.
The Lily mine is a lode gold deposit along the faulted interface between the Figtree and Onverwacht groups of the Archaean Barberton greenstone belt. The Onverwacht metavolcanics are composed of talc and talc-carbonate schists derived from ultramafic precursors, while the Figtree metasediments comprise interbedded greywacke, shale and chert. The general trend is an east-west strike with asteep southerly dip. The shearing andmineralisation are parallel to the regional fabric. The gold mineralisation is structurally controlled and associated with fine grained pyrrhotite, minor arsenopyrite and chalcopyrite, and with quartz-carbonate veins.
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