The Yukon placer mining industry recorded strong production in 2019. This was largely due to favourable gold prices, coupled with a beneficial exchange rate, which resulted in high selling prices during most of the summer. The industry also benefited from an early start to the season due to warm early spring temperatures. Shifts in regional production values reflect movement of certain large operations to both new and historic locations. The shift reflects permitting challenges in the Indian River, as well as the need to discover and develop new deposits based on diminishing resources within specific claim holdings.
Placer gold production, according to export tax reporting at the time of publication, was 75,228 crude ounces and valued at $116M¿CDN. The 2019 production value was nearly $27M¿CDN greater than that of 2018, largely owing to a favourable gold price that averaged more than $1900¿CDN/fine ounce throughout much of the mining season. This was nearly $400¿CDN/fine ounce more than the average 2018 gold price. When accounting for inflation, the 2019 production value is the highest value since 1988.
