Selkirk First Nation becomes 1st Canadian Indigenous group to own major mine site

The Yukon Supreme Court just approved its acquisition of the Minto copper mining operation

Rowan Dunne

Published

5 hours ago

A Yukon Indigenous group recently made history by becoming the first to take full ownership and control of a sizeable Canadian mining operation. It has been inactive for over two years.

On Jun. 13, the Yukon Supreme Court approved the Selkirk First Nation’s acquisition of the territory’s Minto copper-gold mine.

“It is historic, it is the first time that I’m aware of that a First Nation will be owning a mine and pushing its development forward,” Selkirk legal representative, Greg Fekete, said in the courtroom.

Selkirk has obtained the shuttered project in two phases. The first occurred in September when it secured the site’s tangible assets — equipment, buildings, etc.

Now, the Indigenous group has finalized its takeover of Minto by obtaining the non-tangible assets — such as the claims, leases, permits and water licenses.

In a social media post made by Selkirk Development Corporation’s former CEO on Wednesday, he explained that finalizing the acquisition was a new beginning for the group. Zachary Fulton just stepped down from his role with the Indigenous organization’s development arm after more than seven years.

“With Selkirk First Nation now approved to purchase the Minto Mine, a new chapter begins, one rooted in self-determination and opportunity,” he said in a social media post.

The former mine operator, Minto Metals, abandoned it in early 2023 due to immense financial problems, operational issues and logistical headaches.

Low copper prices, defaulting on loans, water management concerns and an inability to maintain the project’s aging infrastructure were significant catalysts leading to the mining company up and leaving.

Selkirk to start drilling, considers restart

The First Nation plans to start a new exploration campaign over an 18-month period to assess the feasibility of future activities. It will commence before the end of the year.

“We wish them all success with their plans to explore the feasibility of reopening the Minto Mine,” said Yukon energy minister John Streicker in a statement obtained by North of 60 Mining News. There is no guarantee that Minto will re-enter production.

Yukon’s new Indigenous owner will be required to submit a comprehensive plan for the site to the Yukon Government by the end of 2027.

Last year, territorial government regulators allocated C$21.5 million obtained from Minto Metals during its bankruptcy proceedings to support ongoing work at the project.

“This money will be drawn from the financial security that was collected from Minto Metals Corporation before their closure and abandonment of the mine site and is not funded by taxpayers,” Streicker explained in a news release on Sept. 5.

The Minto Mine has produced over 500 million pounds of copper since its establishment 16 years ago. Mineralization was first discovered by prospectors in 1971.

It is situated on Selkirk traditional lands, approximately 240 kilometres northwest of Whitehorse.