In a significant development, the Yukon Supreme Court has given the green light for the second phase of the sale of the Minto mine to the Selkirk First Nation (SFN), a move that empowers the First Nation to oversee activities on its own territory.
The Minto mine, located on SFN land approximately 240 kilometers northwest of Whitehorse, was abandoned by its previous owners, Minto Metals Corp., in May 2023, leading to the appointment of PricewaterhouseCoopers as the receiver.
After acquiring the physical assets at the site for $5.3 million in September, SFN has now received approval to purchase mineral claims and leases for $740,000, enabling them to extract minerals. The finalization of the sale is imminent.
SFN Chief Sharon Nelson expressed the significance of this milestone, emphasizing that it places the First Nation and its citizens in control of the site within their traditional territory.
During the court proceedings, Judge Suzanne Duncan commended SFN for embarking on this venture, highlighting the potential for innovative approaches to environmental stewardship in the mining sector.
Looking ahead, SFN aims to conduct a drill campaign as early as this summer to evaluate the feasibility of reopening the mine. The subsidiary company of the First Nation will manage the site’s operations and, if the sale progresses as planned, will take charge of reclamation efforts by April 2026.
While uncertainties remain about the mine’s future production, SFN’s objective is to boost economic activity in the community and enhance self-sufficiency, all while upholding rigorous environmental standards for the long-term preservation of the site.
This unique ownership structure, as noted by legal representatives involved in the deal, sets a precedent in the mining industry. SFN intends to seek external investment to support the project’s growth while retaining a degree of influence over its development.
Despite the monumental nature of the sale approval, SFN emphasizes that full ownership of the mine is not the primary focus, with Chief Nelson emphasizing that the future trajectory is yet to be defined. Further details about SFN’s plans will be unveiled following the completion of the sale.
