Shaun Burns,a 48-year-old general labourer who was working in the pit,died at the scene after being submerged in concrete.
Mr Burns has been remembered by friends from the Kilmore Field and Game Association as a"great bloke,"hardworking"and a"true friend".
His 28-year-old co-worker from Caroline Springs was struck by the tub and is also believed to have been almost completely submerged in concrete. He was swiftly rescued,but suffered life threatening injuries and remains in a serious condition in hospital.
A third man suffered non-life threatening injuries.
An initial WorkSafe investigation has found that a suspected failure or malfunction at the end of the crane's hoist rope - a key component on most cranes,also known as the wedge socket - is likely to have contributed to the incident.