With a cost estimate of $4.38-billion, remediation of the Giant Mine, one of the most contaminated sites in Canada, is also expected to be the most expensive federal environmental cleanup in the country’s history.
The figure, recently approved by the Treasury Board of Canada, spans costs from 2005 until 2038, when active remediation at the former Yellowknife gold mine is anticipated to end. That includes $710-million the federal government said has already been spent, but does not include costs for long-term care and maintenance.
“It doesn’t bother me so much that it’s going to cost $4-billion to clean up Giant Mine. What really bothers me is that the taxpayer is covering that cost,” said David Livingstone, chair of the Giant Mine Oversight Board.
It indicates the federal government failed to ensure private developers provided financial security to remediate sites. He said while that has improved over time, there will likely be more issues in the future.
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