Receiver moves to put Yukon’s Eagle mine up for sale
PricewaterhouseCoopers wants to close the sale of the mine by December
Victoria Gold’s receiver wants to put the Eagle mine in Yukon up for sale.
In a new filing in Ontario’s Superior Court of Justice, PricewaterhouseCoopers states the proposal is based on three “milestones.”
The territory forced Victoria Gold into receivership in a bid to thwart further environmental effects after part of the mine catastrophically failed almost exactly a year ago, with large amounts of cyanide solution and heavy metals seeping into the environment. The receiver has overseen work by contractors to stabilize the mine.
Now, PricewaterhouseCoopers (PwC) states things have improved at the site, with emergency work expected to be completed by September 30. As well, the heap pond will soon be drained.
The receiver also states the Independent Review Board has completed its investigation, which will be publicly available at the end of the month. The Yukon government tasked the group with providing expert opinions and advice on mine waste management at the site.
The Yukon government has not launched a public inquiry into the slide. The First Nation of Na-Cho Nyäk Dun has called for one, repeatedly.
Finally, PricewaterhouseCoopers states hosting a sale is a requirement of a credit agreement.
The receiver said the Yukon government, Na-Cho Nyäk Dun and PwC’s financial advisor were consulted on sale plans, with each providing feedback, which was “carefully considered.”
On June 30, there will be a court hearing, where the receiver will present its case for making a sale.
A Yukon cabinet spokesperson said it’s still early in the process.
“But because the court is overseeing it, we’re confident it’ll be solid, transparent, and fair,” Laura Seeley said in an email to CBC News.
The receiver wants to close on the sale by the end of December.
Related stories from around the North:
Canada: N.W.T. gov’t to review impact benefit agreements between mines and Indigenous groups, CBC News
Sweden: Swedish developer GRANGEX buys iron ore mine on Norway’s border to Russia, The Independent Barents Observer
United States: Canada and U.S. make co-investment in Fortune Minerals N.W.T. project, The Canadian Press
