The COVID-19 pandemic and associated economic recession has had a profound impact on Canada and the world. In Yukon, the tourism industry nearly vanished overnight as flights and RV traffic were reduced to a trickle. Fortunately, gold mining was given an essential service “green light” to continue, amid strict protocols to control the spread of the virus. The industry responded with an incredible year of production, spurred on by high gold prices and low fuel costs. This scenario, where gold mining provided a safe haven and economic opportunity during global hard times, has played out before in Canadian history. The great depression of the late 1800s contributed significantly to interest in the Klondike Gold Rush, the dirty 1930s saw a resurgence in placer gold mining in Yukon, and similarly, the recession of the early 1980s kick started the modern era of placer gold mining in the territory. The story of the 2020 pandemic is no different, highlighting the value of economic diversification and ability of a remote northern industry to contribute new wealth to a nation when it is needed most.
