Photo: CKRW file.
Whitehorse, YT – Most delays and cancellations of Yukon mines are due to financing issues, not regulatory hurdles, according to a University of British Columbia study.
The study reviewed six major mines approved through the Yukon Environmental and Socio-Economic Assessment Board (YESAB) since 2005. Only two opened on schedule, two faced multi-year delays, and two remain unopened.
The study suggests that financing gaps, rather than the permitting process, were the main reason projects stalled.
Yukon Energy, Mines and Resources Minister Ted Laking agrees with aspects of the study but argues that financing depends on a predictable regulatory framework.
“That means providing timelines and clarity on how long it takes to go through that process,” said Laking. “That’s how you de-risk an investment, and that’s how you attract investment.”
The study also found that even operational mines underperformed, with production averaging 57 per cent below projections and employment often lower than expected.
