en.Wedoany.com Reported - Cleanup and remediation costs continue to rise after a heap leach facility failure at the Eagle gold mine in Canada's Yukon Territory approximately two years ago. A latest report from court-appointed receiver PricewaterhouseCoopers (PwC) shows that cleanup at the mine has cost $301 million to date, and is expected to increase to $377.5 million by the end of September this year.

At the time of the incident, the mine was operated by Victoria Gold Corp. A portion of the heap leach pad collapsed and slid into a nearby creek. The landslide was approximately 1.5 kilometers long, involving about 4 million metric tons of material, of which an estimated 2 million metric tons breached the barrier. Between April and September 2026, nearly $24.4 million is expected to be spent on water treatment, water storage, and heap leach stabilization; another $32.3 million on equipment, employee costs, utilities, and accommodation; and on-site management and technical consultant fees are estimated at $16.5 million.

Part of the remediation costs are funded by a $220 million loan approved by the Yukon Government in March 2025. PwC has drawn $185 million to date, with $35 million remaining available. The remaining costs are being raised through the sale of other Victoria Gold assets, such as a royalty sold to Franco-Nevada Corporation for $55 million in April this year. In April this year, Boroo Pte Ltd., a private mining company headquartered in Singapore, signed a 90-day exclusive agreement to acquire the Eagle gold mine. During negotiations, Boroo will conduct further due diligence at the mine site and begin early discussions with the Yukon Government and the First Nation of Na-Cho Nyäk Dun regarding the transaction and key agreements required to restart mining operations.

With the mine carrying at least $540 million in debt, the report states that if the sale is successful, the Yukon Government will be first to recover its loan, followed by PwC and secured creditors holding collateral. Other companies with outstanding bills are collectively awaiting $82.7 million.

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