Yukon New Democrats want to increase mining royalty rates to help pay for education, health and social programs. Yukon Liberals and the Yukon Party are against the proposal.
RENO, NV – Mining royalties and other mining issues may define differences among the Yukon Territory’s political parties as voters go to the polls on October 11, the day after the Canadian Thanksgiving.
The Yukon economy is doing well thanks to record high mineral prices, resulting in a mining exploration boom, three new hardrock mines and nearly 100 placer mines.
This week Yukon New Democrats Party leader Liz Hanson announced the Yukon Resource Legacy Fund, which will be financed by “a reasonable increase in hard rock, placer gold, and other mineral and non-renewable resource royalties.” The amount of the increase would be determined through consultation with mining industry experts and economists, as well as the public to determine a fair rate of return.