Mining Explorers 2009: Yukon: A hot destination for miners

Despite the challenging economic times being faced worldwide, Yukon continues to be a hot destination for mineral exploration and investment.

Yukon's mining economy remains strong, thanks to development work that continues at several projects in various parts of Yukon.

Yukon's mineral production and mining development expenditures are expected to exceed C$200 million in 2009.

Despite all the current activities and development work under way, Yukon has only just begun to tap into its natural resources. Just 4 percent of our land has been staked for mineral rights.

In fact, Yukon lays claim to 2,700 known mineral occurrences and over 80 mineral deposits with established reserves, some of which are among the largest known in the world such as our tungsten deposit in southeast Yukon.

As a result, exploration work continues to take place throughout Yukon on a variety of deposits. Numerous companies are making exciting finds on their properties and a number of projects are poised for further development in the coming years.

This is very rich land indeed, and Yukon is poised to become a major player in the industry.

Yukon's government is strongly committed to supporting a healthy mineral exploration and mining industry in the territory.

We support the development of our mineral industry with key competitive advantages such as:

Full authority over our streamlined permitting process;

Extensive communications, energy and transportation;

First Nations governments ready for opportunities; and,

Comprehensive and up-to-date geosciences data, infrastructure.

Yukon government has full authority over its resources and is the administrator of a stable and straightforward mining development process.

We have a unique assessment and permitting regime, the only one of its kind in Canada. As a result, the territory is building an excellent reputation with the industry for our transparent, efficient and timely processing of permit applications.

Our regulatory regime is focused on getting things done right the first time, and we believe that this is a good thing for the mining industry.

We also have a single environmental review process, which functions at arm's length from government.

The Yukon Environmental and Socio-economic Assessment process is seamless and straightforward, and provides for reasonable timelines.

It is also a thorough and transparent process which ensures that if a project is well-conceived, it will proceed.

Another of our strengths is our well-developed infrastructure.

Despite popular misconceptions about the North, Yukon is far from remote. Over 4,800 kilometers, or 2,976 miles, of all-weather roads, access to tidewater, numerous airports, clean energy, and modern communications keep us and the industry connected to the rest of the world.

What also distinguishes the Yukon from other jurisdictions is that the majority of First Nation land claims are settled in Yukon.

Eleven of 14 Yukon First Nations have finalized their land claims and are self-governing.

This has formalized mineral rights in Yukon, thus providing regulatory certainty for the industry and establishing a basis on which mining companies are able to work with First Nations on exploring potential mineral opportunities.

Finally, Yukon government offers unparalleled data and research through the Yukon Geological Survey.

The Yukon Geological Survey maintains extensive data on geological and mineral deposits in Yukon. It also maintains comprehensive databases and interactive mapping tools for industry.

The Yukon Geological Survey also coordinates the Yukon Mining Incentive Program. The Incentive Program has helped prospectors and companies do base-line exploration that has uncovered significant mineral resources.

We are particularly proud to note that the Yukon Mining Incentive Program provided funding in 2003 for the initial prospecting that led to the discovery of the White Gold property, where Underworld Resources is currently carrying out advanced exploration.

Indeed, following the release of excellent drill results this spring from the White Gold property, there has been increased interest in Yukon from mineral exploration companies.

This has resulted in a mini-staking rush as dozens of mining companies staked thousands of new claims in the Dawson City area.

More than 6,000 new placer and quartz mining claims have been staked in the Dawson area since April 1.

The Government of Yukon wants you to be aware of our mineral potential and our support for the mining sector.

With its huge untapped mineral potential and strong government support for the mining industry, Yukon is the right place to do business.

The Honorable Archie Lang is Minister of Energy, Mines and Resources for the Government of Yukon.