A court-appointed receiver has confirmed plans to sell the Yukon Eagle Gold Mine, the site of a major environmental incident last year.
The mine, located near Mayo, Yukon, experienced a heap-leach facility failure in June 2024. That incident released nearly two million tonnes of cyanide-contaminated waste into the environment.
PricewaterhouseCoopers Inc., the receiver, shared in its fifth report that it will request court approval to begin the sale process this week.
If approved, the sale will launch in July with a goal to close by December 31. The Ontario court is scheduled to hear the motion on Wednesday.
The receiver developed the sale plan after consulting the Yukon government, a group of lenders, and the Na-Cho Nyak Dun First Nation.
The Yukon government, which is both the primary regulator and receivership lender, has backed the proposal. Officials stressed the importance of transparency and protecting local interests.
Currently, the government and receiver are focused on environmental safety and cleanup at the mine. Ongoing tasks include controlling excess spring runoff and treating contaminated water before it is discharged.
The proposed timeline outlines that initial bids are due by August 6. Selected bidders will be announced by August 20.
Due diligence will take place in September and October, with a final bid expected by November 5.
The mine is located on the traditional territory of the Na-Cho Nyak Dun First Nation. So far, the community has not issued a formal comment on the sale.
This sale follows a recent development nearby: Selkirk First Nation’s acquisition of the former Minto Mine site. Selkirk Chief Sharon Nelson called that agreement “self-determination in action.” She said it gives her community the chance to shape the site’s future based on their own terms.
The Selkirk Nation plans to conduct feasibility studies.
These studies will help them decide whether to restart mining or explore alternative economic options that reflect Indigenous values.
This shift marks an important moment in Yukon’s mining sector. It highlights a growing emphasis on community consultation, environmental responsibility, and long-term sustainability.
