Victoria Gold recently indicated it’s facing financial uncertainty
Some environmental advocacy groups are speculating the company behind the Eagle Gold Mine – site of a cyanide spill in Yukon last month – may soon go bankrupt. Mine owner Victoria Gold released a statement on July 12 indicating it is facing uncertainty regarding the future of the mine.
“There can be no assurance that the Company will receive authorizations necessary to restart production,” it said, “or that the Company will have the financial resources necessary to repair damage to equipment and facilities or remediate impacts caused by the incident or restart production.”
About 500 people work at Eagle, which is located in the Mayo mining district of central Yukon. Mining Watch Canada, a non-governmental watchdog over the industry, says the company’s statement raises more questions than it answers.
“The more we learn about this, the sketchier it gets,” alleged Jamie Kneen, Mining Watch’s national program co-lead for western and northern Canada.
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