2017-03-09 Thu

A huge gold rush had occurred from 1896 and 1899 when more than 100,000 treasure hunters came down to the Canadian Yukon region after gold was discovered in the area. These miners had to carry sufficient food for a least a year since the area was very remote. Some became rich but most had to face huge financial losses. In 1899, some miners went to Alaska after gold was discovered near Nome.

As there is a great demand for precious metals like gold today, the region has once again become a hotspot for mining companies. Newmont Mining Corp is the world’s second gold producer and is looking to start operations in the area. An agreement has already been signed with Goldstrike Resources to invest $39.5 million for developing Goldstrike’s Plateau stake in the Yukon. As per this agreement, Newmont will have 80 percent equity in the Plateau property. The Plateau property has more than 2,000 claims over 350 square kilometres. The results of initial drills have been very exciting. Before Newmont, other top mining companies like Goldcorp, Agnico Eagle Mines Ltd. have also invested in the area.