A court decision on Monday, July 24 addressed unpaid royalties for Selkirk First Nations (SFN) and confirmed the Government of Yukon may advance planning for reclamation and closure of Minto mine site.
It also appointed PricewaterhouseCoopers as receiver for Minto Metals Corporation. As appointed receiver, PricewaterhouseCoopers will manage the Minto Metal Corporation business and property in the best interest of creditors. PricewaterhouseCoopers can seek sale of the mine and assets, if possible, in its entirety to a single purchaser.
The abandoned Minto mine is located on SFN Category A Settlement Land and the government continues to work closely with the First Nation. The resolution of royalties owing to Yukon government on behalf of Selkirk First Nation was agreed to by all parties.
As a regulator, the Yukon government’s focus is ensuring that the environment remains protected at the Minto mine site. The Government of Yukon stepped in quickly when Minto discontinued operations on very short notice and successfully made it through spring freshet. Water treatment on site continues and storage capacity is increasing.
The Yukon government holds financial security for the site and intends to access this funding to cover the costs of the reclamation work.
Monday’s court decisions provide legal clarity to support long-term planning for Minto mine. We believe it is a good outcome for the Selkirk First Nation and the Yukon, particularly as it relates to unpaid royalties. While we acknowledge the possibility of the mine reopening at some stage in the future, our immediate priority remains ensuring that the environment is protected. Our government is working closely with Selkirk as we continue forward.
-
Minto mine site is located on Category A Settlement Land of Selkirk First Nation.
-
Minto Metals Corporation announced that they had abandoned the Minto mine site on May 12, 2023.
-
Yukon government hired JDS Mining to provide emergency environmental management services at the site and they started on-site work May 13, 2023.
-
PricewaterhouseCoopers was appointed receiver of unsold concentrate on June 29, 2023.
-
On July 24, 2023, the Supreme Court of British Columbia issued a Settlement Implementation Order and Receivership Order pertaining to Minto Metals Corporation and Minto mine site.
-
As the regulator of quartz mining in the Yukon, Yukon government is responsible for ensuring environmental protection in the best interest of Yukoners.
Renée Francoeur
Cabinet Communications
867-334-9194
renee.francoeur@yukon.ca
Kaila de Boer
Communications, Energy, Mines and Resources
867-332-4041
kaila.deboer@yukon.ca