mining company

Yukon judge grants stay to mining company over higher security payment

Yukon judge grants stay to mining company over higher security payment

A Yukon Supreme Court judge has paused part of a security payment contested by the territory's largest mine, ruling the company's bottom line would be adversely impacted. In June, the Yukon Water Board ordered Victoria Gold — the company behind the Eagle Gold Mine near Mayo — to furnish a total of $105 million by mid-September, arguing security needed to be increased because the company breached its water licence. That amount is roughly $74 million more than what Victoria Gold had already put forward, an estimated $31 million. It's also higher than a Yukon government security calculation of roughly $69 million.

N.S. mining company handed $250,000 in fines for dumping environmentally harmful substances

N.S. mining company handed $250,000 in fines for dumping environmentally harmful substances

After pleading guilty to releasing harmful substances into bodies of water near its operations, a Nova Scotia mining company has been ordered to pay $250,000 to the provincial and federal governments. Atlantic Mining NS Inc., which operates as Atlantic Gold in the province, pleaded guilty earlier this month to two charges: failing to test the quality of runoff water at its Touquoy open-pit gold mine in Moose River and failing to report those findings to authorities. Initially, 32 environmental infractions were laid against the company, but that number was reduced during the plea process.