security payment

Victoria Gold, Yukon Water Board argue in court over higher security payment

Victoria Gold, Yukon Water Board argue in court over higher security payment

Water licences are required for most mining operations and typically come with a number of conditions, which may include a requirement to provide a security cash deposit so funds are available for clean-up and remediation efforts should anything go wrong. Every two years, mining companies are required to submit reclamation and closure plans, to ensure sufficient security. Buchan said Victoria Gold hasn't been in compliance with that process, pointing to a lack of information on adjustments to its heap leach pad involving certain recontouring work, and apparent snow removal obligations from that site.