Mining in Yukon
Though Yukon has the second smallest population of any first order territorial subdivision in Canada and only 0.1 percent of the Canadian population, it has the third highest GDP per capita in the country. A gold rush attracted many prospectors in the late 19th century and mining has for many decades been one of the territory’s major industries. While the government has succeeded mining as the primary employer in Yukon and tourism has become a cornerstone of the territory’s economy, mineral extraction brings in much income, and exploration for gold, silver, copper, nickel, lead, and zinc, among other minerals, remains highly successful.
“Mining Yukon”, a slickly designed website created by the territorial government, touts the many advantages of mineral extraction . According to the website, Yukon boasts “80 mineral deposits…some of which are world class in stature,” as well as 2,600 different known sites of various minerals. It also provides excellent geological and land use maps, such as the one appearing at left.
Mineral exploration continues to create economic optimism in Yukon. Strategic Metals Ltd., the self-described “pre-eminent explorer and claimholder” in the territory, announced in late May the potential for promising gold mines. Many of the potentially mineral-rich sites that the company is exploring are located in eastern Yukon, which already produces large quantities ofgold and copper. Strategic Metals generates revenue from 160 land holdings across the territory and owns substantial shares in other Yukon mining firms.
Another mineral extractor in Yukon, Ethos Gold Corp, has found potentially large gold deposits. The CEO of Ethos recently stated, “We are excited to have made several new and substantial gold discoveries during the first drill test program on the Betty Property which is confirmed to have potential to host large gold deposits.” Ethos owns a very substantial 1,020 square kilometers of land in the territory.
The profitability of Yukon’s minerals, along with its highly lucrative tourism—much of itfrom adventure-seeking Germans—means that the otherwise largelyisolated territory receives substantial traffic from the outside. Mining companies rely on highways linking the territory to its neighbors, including Alaska. Flooding in mid June of this year caused consternation for both truckers hauling tungsten and gold and residents who were used to dining at Tim Hortons and eating imported food items.
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