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Tuesday, Feb 20, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Mining

Yukon seeks public feedback for new minerals legislation

Current Yukon mining laws in place date back to the Klondike Gold Rush in 1898

Signpost at Keno Hill near Mayo, Yukon Territory. 'Placer mining and mineral exploration provide a non-governmental economic base for the community' says the Village of Mayo. Photo by Rowan Dunne

The Government of Yukon and Yukon First Nations are seeking public input before crafting new minerals legislation in the territory after acknowledging that laws in place dating back to the Gold Rush are no longer practical.

On Wednesday, the Yukon government and Council of Yukon First Nations announced that the territory would be developing a comprehensive set of new mining laws addressing everything from prospecting to mine operation.

The legislation will be replacing the Placer Act and Quartz Mining Act that have been in place for over 100 years. Government members met yesterday to discuss exploration and mining opportunities in Yukon.

Read more: Calibre Mining gold discovery could breathe life into historic mining community

Read more: Calibre Mining budgets $29M for 2023 exploration in Nevada and Nicaragua

The mining sector accounted for 14 per cent on the territory’s economy in 2020 and was the largest sector for Yukon aside from public administration.

The Yukon government and First Nations say the new legislation will be intended to improve the way in which the territory’s mineral resources are managed and to foster competition in the mining industry while protecting the environment.

Various community meetings will be held in Yukon over the next 90 days to gain input from residents and the government has also created an online survey available until May 9 to acquire feedback. A What We Heard document will then be released after that period has concluded.

“The Yukon government is committed to responsible mineral resource development in a way that protects the environment, respects the rights and traditions of First Nations and benefits all Yukoners. We’re asking Yukoners to provide their input to ensure that new minerals legislation reflects the modern needs of our territory,” said John Streicker, Minister of Energy, Mines and Resources.

Read more: Calibre Mining finds robust drill results from Golden Eagle project

Read more: Calibre Mining offers a ‘very attractive’ value-risk proposition: Haywood Securities

Yukon has a rich mining history

Yukon is well-known for the 1898 Klondike Gold Rush that occurred in Dawson City. The remote town now has a mere population of about 2,350 people (as of Dec. 2018) but during the gold rush approximately 100,000 people lived there before the regions gold had been depleted by the vast number of prospectors.

Dawson City was actually the Yukon’s capital between 1898-1953 before Whitehorse took its place.

Commemorative mining statue in Dawson City, Yukon Territory. Photo by Arthur Chapman via Wikimedia Commons

Dawson City is now primarily a historic tourist attraction but gold mining and exploration for other minerals is alive and well in the territory. Companies like Victoria Gold Corp (TSX: VGCX) have major active projects there and the company’s Eagle Mine is the Yukon’s largest gold mining operation.

Other minerals actively mined in Yukon include copper, uranium, zinc, silver and lead.

 

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