Yukon Government to Seize Control of Victoria Gold's Eagle Mine
Government to Take Over Operations Amid Environmental Concerns
Whitehorse, Yukon - August 14th, 2024 - 10:46 AM
The Government of Yukon has announced its intention to seize control of Victoria Gold Corp.'s Eagle mine site, citing environmental concerns raised by a First Nation group. The government will appoint an independent administrator to manage the mine's operations and ensure compliance with environmental regulations.
Victoria Gold Corp., based in Whitehorse, Yukon, owns and operates the Eagle mine project, which is located in central Yukon. The company has been facing scrutiny from the Yukon government and the Tr'ondëk Hwëch'in First Nation, who have raised concerns about the mine's potential impact on the environment, including water quality, fish habitat, and wildlife.
After reviewing the concerns raised by the First Nation group, the Yukon government determined that the company had not taken sufficient action to address the environmental issues. The government's decision to seize control of the mine site is intended to ensure the protection of the environment and the rights of the First Nation group.
Victoria Gold Corp. has not yet commented on the government's announcement. The company's shares fell sharply in trading on Friday morning following the news.
The Yukon government's seizure of the Eagle mine site is a significant development in the ongoing debate over mining and environmental protection in the territory. The decision raises questions about the future of mining in Yukon and the government's commitment to sustainable development.
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