have you done all of this:
Now that the elevator is working, use the button to go up. Notice that there are two levels.
On the middle level, there's a bucket full of emeralds at the right and a bit of fuse wire at the left; take them. On the top level, there are more emeralds in the wall, a large drill, and a couple of bats overhead. Oh, and a crate hanging from the ceiling; you can't tell from here, but it's full of dynamite sticks. Hmm...
How do I get the dynamite down?
Now that you have dynamite and fuse, you just need to pick the best spot to plant them. You're trying to go up; pick the highest spot you can find in this area.
Go up to the top level and use the drill to make a hole in the wall, then place the dynamite in it and attach the fuse. Now how to use the fuse?
The lighter is no help here. This isn't the kind of fuse that burns; it's the kind that attaches to a detonator.
Go back down to the bottom level and pick up the loose end of the fuse wire hanging down from the top level. Go off screen left to find the detonator and attach the wire to the BOTTOM of it. (There are two hotspots here: the place to attach the wires at the bottom, and the plunger at the top.)
Once the wires are attached, use the plunger at the TOP. (You may have to use the plunger twice -- once to pull it up, once to push it back down.)