Dormant Yukon Copper-Gold Mine Gets New Life
Mining News | 2025-07-03 21:06:07
The mine continued to be in receivership for more than a year, with attempts to find a buyer yielding no results.
By Paul Ploumis
SEATTLE (Scrap Monster): The idled Minto copper-gold mine has received new life with First Nation partnership.
In order to establish a new company that will assume ownership of the now dormant mine situated approximately 250 kilometers north of Whitehorse in the Yukon, Venerable Ventures and the Selkirk First Nation inked a final agreement. In accordance with the conditions of the C$15 million deal, Selkirk First Nation will acquire the majority ownership in the restructured business.
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The mine operated between 2007 and 2013, for a total of nearly 16 years. Around 500 million pounds of copper were extracted from the mine during this time, along with secondary products of gold and silver. However, financial distress and operational bottlenecks led to the sudden closure of the mine in May 2023.
For over a year, the mine remained in receivership, and efforts to locate a buyer were unsuccessful. The Selkirk First Nation then put forth a proposal to seize control of the mine. In June 2025, following court cases and negotiations with the Yukon government, it was able to acquire the mine's assets.
Selkirk First Nation Chief Sharon Nelson expressed pride in assuming control of the significant copper-gold mine situated on their settlement grounds. In order to increase the resource base, it plans to start a comprehensive drilling program as soon as possible, he continued.
