We collect financial security for quartz mining and exploration projects in Yukon. The requirements for security can come from a:
- quartz mining licence;
- mining land use notifications;
- mining land use approval; or
- type A or type B water licence.
Financial security held for mining projects
If you own a major mine in Yukon, you must provide us with financial security for the cost to reclaim and close the mine site. Our assessment of closure liability is in accordance with your approved reclamation and closure plan.
How is security calculated
We review the mine's current liability and the expected change over the next 24-month period. We reassess the cost at least every 2 years to reflect the impact of operations and progressive reclamation.
As of June 1, 2023, the total financial security held for mining projects is $160,809,142.50.
|
Project name |
Total security held |
|---|---|
|
Brewery Creek |
$1,668,500.00 |
|
Carmacks Copper |
$80,300.00 |
|
Eagle Gold |
$68,662,300.00 |
|
Keno Hill Silver District Operations |
$10,232,955.00 |
|
Minto |
$75,223,163.00
|
|
Sä Dena Hes |
$4,941,924.50 |
Financial security held for exploration projects
We may require security for your exploration project if we determine that there may be a risk to the environment. We may consider your past performance. The security will not be more than the costs of restoring the site. This includes any measures that need to be taken or continued.
In setting the amount of security, we consider:
- the degree of risk;
- your financial ability; and
- any security deposited under the Waters Act.
As of July 28, 2023, the total financial security held for exploration projects is $3,811,911.71.
|
Project name |
Security held |
|
3 Aces |
$240,309.00 |
|
Aurex-McQuesten Project |
$137,399.45 |
|
Casino |
$791,816.00 |
|
Clear Creek |
$184,646.00 |
|
Coffee Gold |
$220,207.89 |
|
Eagle Gold |
$326,821.00 |
|
JP Ross |
$20,107.20 |
|
Keno Hill Silver District Operations |
$58,507.40 |
|
Keno Lightning |
$1,394.00 |
|
Keno Silver |
$24,844.44 |
|
Klondike Silver |
$4,655.00 |
|
Rackla Gold |
$121,000.00 |
|
Selwyn |
$1,435,933.00 |
|
Shanghai Project |
$1,295.00 |
|
Silver Hart Property |
$155,659.33 |
|
Skukum Gold |
$7,406.00 |
|
Tom-Jason |
$39,596.00 |
|
White Gold Property |
$9,312.00 |
|
Class 4 placer projects |
$20,000.00 |
|
Class 1 placer projects |
$10,498.00 |
|
Class 1 quartz projects |
$505.00 |
If you have questions about security or the amounts posted, contact the Mineral Resources Branch at [email protected].