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

Alaska allows sale of Chinook incidentally caught during commercial chum salmon fishing

Strong run numbers at the Pilot sonar meant a lifting of restrictions, an ADFG biologist said

Help Wanted: Yukon businesses struggle due to labour shortage

There are lots of jobs, but where are the workers?

Canadian premiers discuss shoring up Canada’s Arctic

All Canadian premiers met in Saskatoon from July 9 to 11

From field to food: a grasshopper dinner

Yukoners Chris Gilberds and Erin MacIntyre think more people should be eating insects

WYATT’S WORLD

Wyatt’s World

Court news, briefly

Some recent news out of Yukon courts

This week at Whitehorse city hall

Some decisions made by Whitehorse city council at its July 8 meeting:

Driving with Jens: Distracted driving continues to be a serious issue

How often to you witness other drivers on their cell phones or… Continue reading

Yukonomist: Yukon summer reading

The sunny days of Canada Day weekend reminded me that the Yukon… Continue reading

Yukon athletes gain valuable experience at Jack Brow Memorial 2019

Seven Yukoners travelled to B.C. for the meet

Whitehorse defeats Dawson City in second annual Yukon Cricket Championship

“They came and we had a real Yukon Cricket Championship”

Canada Day Tourney pits Yukon soccer players against each other and the elements

“We played in extreme heat, extreme smoke conditions”

How do you define a meeting?

Maybe Whitehorse council is just having “gatherings”

Most Read