WRN - WESTERN COPPER AND GOLD PROVIDES UPDATE ON THE PORT OF SKAGWAY | Benzinga
VANCOUVER, BC, Dec. 5, 2023 /CNW/ - Western Copper and Gold Corporation ("Western" or the "Company") (TSX:WRN) (NYSE:WRN) is pleased to announce during the 2023 Fall Sitting of the Yukon Legislative Assembly, the Yukon Government approved $21.4 million for investment in the Municipality of Skagway's (or "Skagway") redevelopment of their dock infrastructure to include a Marine Services Platform ("MSP") to continue to support ore export for the Yukon mining industry.
The approval of this investment follows the Yukon Government signing of a term sheet with Skagway on September 7, 2023, outlining the terms and conditions of the investment, proposing an initial 35-year preferential access to the port with an option to extend for another 15 years, as well as a significant investment in the initial engineering of the MSP. The Yukon government is currently working towards finalizing an Export Cooperation Agreement with Skagway.
The MSP at Skagway is located in South-east Alaska and is 560 km from, and is the closest tidewater port to, the Casino Project. The Port of Skagway has historically been the preferred port to ship concentrates from the Yukon, and most recently was used to ship copper concentrates from the Minto Mine.
"Further investment and commitment from the Yukon Government in advancing infrastructure for the mining industry is another step in the right direction ...