Mining companies owe millions in clean-up securities to territorial government – Northern Journal
October 28, 2014
Yellowknives oppose changes to securities for Ekati
Mining companies in the Northwest Territories owe nearly $180 million in outstanding securities to the territorial government.
The GNWT took over responsibility for the operation of all 61 mine sites in the territory through devolution in April, and with it, the role of accepting financial assurances from companies that prove they are capable of cleaning up their projects.
According to information tabled last week in legislature, Dominion Diamonds Corp. owes nearly $171 million alone to the territorial government under its water licence. The company owns the majority of the Ekati diamond mine and part of Diavik.
Prairie Zinc mine owner Canadian Zinc owes $6 million in securities for its land use permit and water licence.
