Mining companies give up claims in Peel Watershed Planning Region in Yukon

Seven mining companies, including Newmont Mining (TSX: NGT; NYSE: NEM) and Atac Resources (TSXV: ATC; US-OTC: ATADF), have agreed to give up their mining claims in the Peel Watershed Planning Region of the northern Yukon as part of a plan that aims to protect the region’s resources.  

The Peel Watershed Regional Land Use Plan was approved in 2019 by First Nations governments and the government of Yukon and aims to maintain a balance between the region’s environment and cultural resources and opportunities for economic development. 

The mining companies relinquished 5,031 of the 7,298 claims located in the “special management and wilderness areas” of the plan, according to Yukon’s Department of Energy, Mines and Resources. Discussions with other claimholders continue.   

Newmont gave up 1,835 claims in the Wind, Bonnet Plume and Snake River areas of the region — the highest number of claims held by a single company there — while Atac relinquished 327 quartz mineral claims from its Rackla gold property.  Others that relinquished their claims include Generic Gold (CNSX: GGC; US-OTC: GGCPF) and prospector Bernard Kreft. 

The rest of the companies did not want to be publicly named, Jesse Devost, a spokesperson from the Government of Yukon told the Northern Miner.

In return, the claim holders will be granted relief on claims held elsewhere in the Yukon, “in which they either have to do a certain amount of work on or pay to have them remain in good standing,” said Devost. 

“Thank you to Newmont and other claimholders … their agreements to relinquish claims within the Peel region are an example of responsible mining practices, which value environmental stewardship, John Streicker, the Yukon’s Minister of Energy, Mines and Resources, said in a news release.  

The Peel watershed covers 6,743,100 hectares and includes traditional territories of First Nations Tetłit Gwich’in, the Na-Cho Nyäk Dun, the Tr’ondëk Hwëch’in, and the Vuntut Gwitchin who have depended on the water, wildlife, fish, and plant resources for thousands of years.  

Simon Mervyn, chief of First Nation Na-Cho Nyäk, said the ”noble” actions of the companies respect the “irreplaceable cultural importance” of the area. “It is truly refreshing to see that large mining corporations have a social conscience,” he said in a press release.  

Ken Kyikavichik, grand chief of Gwich’in Tribal Council, said that while the Gwich’in people weren’t against mining, the risks from large-scale industrial activity were “simply too great.”  

Newmont CEO Tom Palmer said that the company was “pleased to honour” the Peel watershed plan by surrendering the mining claims, in a press release on February 1.  

Atac CEO Graham Downs said that the exploration company constantly looks for ways to “positively engage with local communities” and that the contribution was “consistent with our commitment to implementing Environmental, Social and Governance principles.” 

The news comes days after Imperial Metals (TSX:III) agreed to surrender its Giant Copper project to British Columbia for $24 million in January, in a deal made to protect the area’s “natural and cultural heritage,” the government said.