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Singapore Firm Set to Buy Shut Yukon Mine for $140M, Promises $1.4B in Investment
Boroo plans $800 million in rehabilitation and water treatment before a phased restart, as court approval is still needed for the Yukon mine purchase.
- On Thursday, Singapore-based Boroo agreed to acquire Victoria Gold's Eagle mine in the Yukon for up to $140 million, aiming to restart the site two years after a heap-leach collapse.
- The June 2024 failure released about 1.8 million tonnes of cyanide-laced ore at Eagle, prompting a court-appointed receivership that has overseen the site since August 2024.
- Boroo plans to invest $1.4 billion, including about $800 million between 2027 and 2029 for environmental rehabilitation, water treatment, and site stabilization to safely resume operations.
- Receiver PricewaterhouseCoopers will seek Ontario Superior Court approval in early December, with the deal requiring Boroo to provide financial security to the Yukon government upon closing.
- Boroo CEO Dulguun Erdenebaatar said teams have conducted "rigorous due diligence" to ensure responsible restarting, as discussions remain ongoing with the First Nation of Na-Cho Nyäk Dun.
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The Toronto Star+29 Reposted by 29 other sources
Singapore firm set to buy shut Yukon mine for $140M, promises $1.4B in investment
A Singapore-based mining company has entered an agreement to acquire the beleaguered Eagle Gold mine in the Yukon for $140 million, more than two years after it was shut down following a massive collapse, with plans to invest a further…
·Toronto, Canada
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Boroo Buys Troubled Eagle Mine in Yukon
Following months of rigorous technical, environmental and financial due diligence, Singapore-based Boroo Pte. Ltd. said it has entered into an agreement with PricewaterhouseCoopers Inc. (the Court-appointed receiver of Victoria Gold Corp.), under which its subsidiary, Gatsuurt Mining Inc., would become the sole shareholder of Victoria. The transaction is valued at $140 million. Victoria’s principal asset […] The post Boroo Buys Troubled Eagle Mi…
Coverage Details
Total News Sources32
Leaning Left20Leaning Right0Center10Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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