SCC's Fred Arendse accused Vantage Gold Fields of holding on to the mine's keys.
"As for us we were ready to start re-employing the miners and start working towards finding the bodies of the three miners who disappeared.
"But Vantage hasn't given us the share certificate with its directors... and all the documents needed when something is being sold," Arendse said.
Black-owned SSC received funding from the Industrial Development Corporation (IDC) and has paid compensation to the families of the three miners who disappeared.
"We have spent so much money on this; we believe these guys [Vantage] are trying to hide something. Remember there was an inquiry done and they were found to have done something wrong in terms of making sure that the mine is safe," Arendse said.
But Vantage CEO Michael McChesney told Sowetan the company cancelled the agreement with SSC group after Arendse allegedly failed to raise the required money.
"We have cancelled that agreement. Actually, we gave SSC group 90 days to raise the funds needed to purchase the mine and they failed.
"We gave them eight months in total and they failed. We are in talks with a new buyer and the mine is going to be opened soon but without SSC group," McChesney.
Community members told Sowetan they would not leave the gates of Lily Mine. Their spokesperson Harry Mazibuko said: "As we speak, illegal miners are in there taking the gold. We are young and [keen to work]. But these people [mine owners] frustrate us. This is wrong, our government is setting us up."