Victoria Gold Corp VITFF

Yukon minings expensive for taxpayers- An inconvenient truth

[KenoHillYT]

And the billions just keep pouring into the Yukon.... but perhaps not from where you think.  It's from the pockets of every Canadian Taxpayer.

"While the mining industry remains a significant contributor responsible for 13.5% of the territory's GDP, its growth has been limited by high energy costs and infrastructure constraints – issues the proposed grid expansion aims to address, potentially unlocking further growth in this vital sector.

However, mining alone cannot support the territory's financial needs, particularly given the fluctuating nature of mineral prices and the high operational costs associated with remote mining locations. This leaves Yukon heavily reliant on federal transfers to sustain its economy.

The federal government provides significant financial support through programs such as the Territorial Formula Financing (TFF), which ensures that the territory can maintain essential public services despite its small tax base."

In 2021-22, Yukon received approximately C$1.1 billion (US$816 million) in federal transfers – more than half of its total territorial budget – highlighting the territory's reliance on assistance from Ottawa for maintaining infrastructure, healthcare, education, and other critical services."

https://www.miningnewsnorth.com/story/2024/09/27/news/yukon-grid-project-may-spark-mining-growth/8722.html