Parties
Company
Minto Metals Corp.
Company
Sumitomo Canada Limited
Company
Finning International Inc.
Company
PricewaterhouseCoopers Inc.
Company
Thyssen Mining Construction of Canada Ltd.
Company
Capstone Mining Corp.
Government
Yukon Government
New court orders have put Minto Metals Corp., which abandoned its central-Yukon mine in May, into full receivership and will also see the territorial government receive more than $1.7 million to settle a lawsuit over unpaid mining royalties.
The British Columbia Supreme Court approved the two separate but connected orders Monday. The orders came from the province's court because B.C.-incorporated Sumitomo Canada Limited had a purchase agreement with Minto, which was also registered in the province. The company filed a petition in B.C. court after Minto abandoned its mine, and the file was ultimately the one that triggered the receivership process.
The proceedings will now be transferred to the Yukon Supreme Court.
Deal Type
OtherIndustry
MiningTransaction
Undisclosed/ConfidentialDeal Status
ActiveClosing Date