Court approves $74m borrowing to fund Yukon Eagle mine cleanup

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The site is under pressure as temporary containment ponds holding 309,000 cubic metres of contaminated water are near capacity, PwC warned in a Nov. 29 update. Storage constraints will persist until regulators approve the discharge of treated water.

Upgrades to the water treatment plant are ongoing, with final lab tests underway to confirm compliance. “We are working to ensure continuous operation through the winter,” PwC said, noting that icy winter weather deadlines loom. PwC’s update on Thursday about the receivership said the newly approved funds are critical to avoiding further environmental damage, it said.

The leach pad failure in June released 4 million tonnes of material with ore and cyanide-containing solution. It ruined the company and moved the Yukon government to seek a court order appointing PwC as receiver amid frustration with Victoria Gold’s cleanup efforts.

The receiver has installed…

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