Promoting Environmental Planning


Peel Mining Claims Worth Little: MiningWatch Canada Report

Nov. 19, 2012, Whitehorse, Yukon – While exploration and mining companies gather in Whitehorse to promote mining at the Geoscience Forum and Tradeshow, the Yukon Conservation Society is saying that over 8,400 Yukon mining claims are practically worthless.

The publicly traded companies with mining claims in the Peel watershed have written off almost all of their expenses for these claims. Of $168,431,781 spent by these companies in the Peel since 2005, all but $5,772,274 has been written off.

YCS commissioned a report from Ramsey Hart, Canada Program Coordinator of MiningWatch Canada, to explain the significance of these write-offs, and to examine the status and potential market value of the Peel claims.

“In their financial statements most exploration companies list their property acquisition and exploration expenses as assets,” said Ramsey Hart. “This is done on the assumption that mineral rights and information gained for the property are of equal value to the cost of obtaining them. Typically companies carry a property as an asset until it becomes clear it has...

Latest News

Thursday, February 27, 2014

News release: MiningWatch Canada welcomes yesterday’s announcement by Environment Minister Leona Aglukkaq that the federal government will not approve Taseko Mines’ New Prosperity gold-copper project. The project, located in south-central British Columbia, was a modification of a previously rejected application.

Thursday, February 27, 2014

Yesterday’s federal decision to reject the New Prosperity Gold-Copper mine proposal was welcomed by Tŝilhqot’in Chiefs, AFN National Chief A-in-chut Shawn Atleo, Union of BC Indian Chiefs President, Grand Chief Stewart Phillip and First Nations everywhere. They now call on this to be the end of a costly, pointless battle that has dragged on since at least 1995, when Taseko Mines Ltd. was first told by the federal Department of Fisheries and Oceans not to waste any further time or money pursuing this unacceptable project.

Thursday, February 13, 2014

News release: Tsilhqot’in Chiefs, along with non-First Nations representatives from the Cariboo-Chilcotin region, are in Ottawa this week to remind the Harper government the New Prosperity mine must be rejected after receiving a second negative Federal Panel Report which predicts that all the fish in Teztan Biny (Fish Lake) will die.