Singapore-Based Company Chosen as Potential Buyer for Yukon Mine After Collapse
The deal could help the Yukon government recover $220 million in cleanup funding after a 2024 heap-leach failure halted production.
- Singapore-Based Boroo Ltd has entered a 90-day exclusivity agreement to potentially purchase the defunct Eagle Gold mine near Mayo, Yukon, from court-appointed receiver PriceWaterhouseCoopers.
- Catastrophic heap leach failure in June 2024 spilled two million tonnes of cyanide-soaked ore, forcing previous owner Victoria Gold Corporation into receivership as it lacked funds for mandatory environmental cleanup.
- The Yukon government loaned $220 million to PWC for site remediation, seeking a buyer like Boroo, which is recognized as a specialist in operational turnarounds with mining assets in Mongolia and Peru.
- Signed last week, the agreement gives Boroo 90 days to complete due diligence and negotiate terms for the Eagle Gold mine and "certain related assets," though no purchase price is disclosed.
- Successful restart requires Boroo to negotiate agreements with the Yukon government and the First Nation of Na-Cho Nyak Dun, with any final sale subject to necessary court approval.
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18 Articles
Singapore company potential buyer for Eagle gold mine in Yukon
A Singapore-based private company has been chosen as a potential buyer for the defunct Eagle Gold mine, where a catastrophic failure in 2024 sent cyanide-soaked ore into the Yukon environment. A statement from the territorial government on Tuesday said the court-appointed receiver has entered into an exclusivity agreement with Boroo Ltd. for the sale of the Eagle Gold mine and “certain related assets.” No price tag has been disclosed, but the ag…
The Toronto Star
Singapore-based company chosen as potential buyer for Yukon mine after collapse
The Yukon government says a Singapore-based private company has been chosen as a potential buyer for the defunct Eagle Gold mine that was the site of a catastrophic storage failure
Singapore-based company emerges as suitor for Yukon's Eagle gold mine
The agreement means Boroo is the only company negotiating with PriceWaterhouseCoopers, which is managing the Eagle gold mine on behalf of the Yukon government. Over the next three months, the two sides will negotiate the details of a sale, and consult with the Yukon government and First Nation of Nacho Nyäk Dun.
Boroo eyes buying landslide-scarred former Eagle gold mine in Yukon
Private investment holding company Boroo could be preparing to buy the former Eagle Mine site in Yukon, almost two years after a landslide forced its closure. The firm has entered... The post Boroo eyes buying landslide-scarred former Eagle gold mine in Yukon appeared first on The Northern Miner.
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