Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Victoria Gold (TSXV: GCX) has resumed operations at its Eagle gold mine following a temporary halt caused by a malfunction of the overland conveyor. The mine is situated within Victoria’s Dublin Gulch property, in the Mayo mining district of Canada’s Yukon Territory.
Earlier this month, it was reported that the 1.5 km overland conveyor linking the crushing plant to the heap leach facility experienced a splice failure of the conveyor belt. During belt replacement, mining, leaching and ADR plant activities continued, while crushing, conveying and stacking operations were suspended.
The Eagle mine first entered commercial production in July 2020, becoming the largest gold mine in Yukon history. It produces gold doré from a conventional open pit operation with a three-stage crushing plant, in-valley heap leach and carbon-in-leach adsorption-desorption gold recovery plant.
The mine has year-round road access and personnel, who work a fly-in/fly-out work rotation, accommodated in a 250-person all-season camp. The site is connected to the Yukon power grid. A commercial airstrip used to transport personnel is located 80 km to the south near the village of Mayo.
