Yukon Zinc’s Wolverine mine site photographed in 2009. A Yukon Zinc manager has confirmed that the defunct mine site has been sold to Richmond, B.C.-based Phoenix Global Investment Inc. (John Thompson/Yukon News file)

Yukon Zinc Corp. sold

The company has been sold to Phoenix Global Investment Inc. but few details are available

Yukon Zinc Corporation, the Vancouver-based company that owned the now-defunct Wolverine mine, has been sold.

In emails Jan. 8, Yukon Zinc’s manager of corporate communications and administration, Alex Wu, confirmed that the company was sold to the Richmond, B.C.-based Phoenix Global Investment Inc. in November 2018.

The company is currently in a transition period, he added, and Phoenix Global Investment is not commenting on the sale at this time.

Wu confirmed that ownership and operations of the Wolverine mine are also being transferred to Phoenix Global Investment.

The mine, located in southeastern Yukon near Watson Lake, began production in 2011 but was shuttered in 2015 due to low metal prices. The mine has since been plugged and flooded, with little indication from Yukon Zinc that operations at the mine would resume anytime in the near future. The company’s water licence for the mine has also since expired.

In 2018, Yukon Zinc pleaded guilty to five charges related to violating conditions of its quartz mining licence for the mine and failing to comply with an inspector’s directions to remediate the site. It also owes close to $25 million in financial security for the mine, a condition of its quartz mining licence.

Department of Energy, Mines and Resources spokesperson Sue Thomas said in an interview Jan. 9 that the department is in the process of setting up a meeting with the new owner to find out its plans for Wolverine, and to ensure it’s aware of regulatory requirements.

(Jackie Hong)

Just Posted

From jazz to metal: Arts in the Park kicks off May 21

Jazz, folk, metal all part of 2019 lineup

Not enough is being done to support the mental health needs of LGBTQ2S+ people: report

Advocacy organization Qmunity has made 70 recommendations to the Yukon government

Lane closure could impact restaurant’s plans to expand deck

Whitehorse city staff to look for solution to help both businesses

Two women charged with first-degree murder in 2017 Pelly Crossing homicide

Charabelle Maureen Silverfox, 27, and Lynzee Harriott Silverfox, 21, were arrested May 16.

EDITORIAL: Yes, even killers deserve due process

No one benefits when the Yukon government is focused on denying it uses solitary confinement

Record turnout for Tour de Haines Junction cycling stage race

The field of 21 riders is the largest in the history of the event

Olympic opportunity for Yukon athletes at RBC Training Ground event

“At this age group, it’s just about saying yes to opportunities. Go out. Try it out, if you like it.”

Commentary: Mining for clean energy

The infrastructure for clean energy requires mining

Whitehorse city news, briefly

A summary of some of the decisions made at the May 13 council meeting

Indoor Archery Championship includes best from across the Yukon

The 7th Indoor Archery Yukon Championship was May 5 at Tahkini Elementary… Continue reading

No time to stop and smell the flowers at the 2019 Crocus Run

Thirty-four runners raced an eight-kilometre loop along Riverdale trails teeming with crocuses

Polarettes take on the Delta invitational

It was a busy weekend at the Richmond Olympic Oval in Richmond,… Continue reading

Most Read