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Yukon mine sold

The Wolverine mine site southeast of Ross River. Photo: Yukon Zinc.

Yukon's Energy, Mines and Resources branch says they hope to get a better picture of Yukon Zinc's plans for the Wolverine mine as onsite monitoring work continues.

The Yukon government says it hopes to meet with the new owners of a shuttered mine in eastern Yukon in a couple of weeks to get an update on the sites future plans.

The government's Mineral Resources Director Bob Holmes says Vancouver-based Phoenix Global is the new owners of Yukon Zinc, and the Wolverine Mine taking over from a Chinese-state owned company.

Holmes says while the mine has been in temporary closure for four years, it's been in the last year Yukon Zinc has fallen out of compliance with various licences and agreements.

"The water levels in the pond are getting above what we would like to see." Holmes said.

"(The company) needs to ensure water coming out of the underground now that it's filled up is diverted away from the surface storage area so it doesn't fill up too quickly. (As well as) carry out their required environmental monitoring and reporting, and they need to pay up security."

Holmes says officials are keeping tabs on what's transpiring.

"We're watching the situation very closely and making sure that we take the actions the company fails to do." said Holmes.

"In terms of compliance, we're investigating, and we've make them aware of the seriousness of this."

Holmes says $25 million in security still needs to be paid, with YG holding $10 million so far.

He says $200,000 of that has been spent by the government managing water onsite.

Last April, Yukon Zinc and its parent company were fined over $100,000 for failing to upkeep the care and maintenance of the property.

The zinc-silver-copper-lead and gold mine was constructed in 2010, and reached full production in 2013 but was put into care and maintenance in early 2015 due to falling world metal prices.

 

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