Australian Company Interested in Buying Troubled Yukon Mine
Australia’s MinQuest announced that it has submitted a conditional purchase offer for Yukon Zinc Corp.’s Wolverine Zinc Mine. The Yukon-based zinc-and-silver mine halted production in January and received court protection from its creditors in March. MinQuest says it wants to buy the underground mine, including its processing and management facilities, power station and operating licences. According to The Canadian Press, court documents show the mine owes $647 million, after losing more than $50 million a year since achieving commercial production in 2012.