Territory takes company to court, saying it owes close to $2.5M from abandoned mine
The Yukon government says Minto Metals, which abruptly abandoned its mine near Pelly Crossing, Yukon, in May, hasn’t paid mining royalties in two years.
That would be a direct breach of Yukon mining legislation. Under the territory’s Quartz Mining Act, any mine that falls within the Act’s jurisdiction — like Minto’s former copper mine — must pay an annual royalty on profits that exceed $10,000. The percentage depends on the profit, but starts at three per cent.
Minto Metals has failed to make these payments, according to a statement of claim filed to the Yukon Supreme Court by the Department of Energy, Mines and Resources (EMR) last week. The government claims the mine owes close to $2.5 million in unpaid royalties from 2021 and 2022. The company still has until October to pay royalties for 2022 without penalty, the statement says, but the unpaid 2021 royalty has already accumulated nearly $200,000 in late penalties and interest.
In an email to CBC News, Minto Metals president and CEO Chris Stewart said the company cannot comment at this time as it has yet to receive the government’s statement of claim. The company hasn’t responded to other requests to comment on its future plans or why it left the mine in the first place.
For the rest of this article: https://www.cbc.ca/news/canada/north/minto-royalties-unpaid-yukon-1.6896025