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 $1.4 billion in operations and other costs.

A statement from Boroo Pte. says that if the deal is approved by the court, it would come with planned capital investment of about $800 million between 2027 and 2029 for environmental rehabilitation, water treatment infrastructure, geotechnical stabilization, and “phased restart activities.”

The company says it would also spend more than $600 million over the initial life of the mine “to support and extend mining operations.”

The 2024 failure at Eagle Gold’s heap-leach facility released about two-million tonnes of cyanide-laced ore and water into the environment, leading to control of the mine being taken over by a court-appointed receiver.