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Taking a chance on Faro, Yukon
It's dark this December in Faro, Yukon -- both literally and figuratively. With winter solstice approaching, Faro sees less than five hours of daylight daily. Far gloomier, however, are the prospects for the town. In the 1970s it boomed thanks to the Cyprus Anvil lead and zinc mine, but now the mine is closed. As residents wait for a new owner to step in, Mary Lou Finlay of CBC's The Journal reports on Faro's fortunes and its future.
• Though no company bought the mine before the deadline of Dec. 31, 1984, it eventually reopened. In 1986 Curragh Resources took over the site, operating it until the mid-1990s when it declared bankruptcy. Another company, Anvil Range Mining, took it over in 1995 but closed it two years later. According to the town's web site in 2004 the mine is permanently closed.
• The population of Faro stands at about 400 as of 2004.
• After the mine's closing came a series of court challenges and appeals over the distribution of its assets to creditors. The dispute was ended by a Supreme Court ruling in March 2003, with creditors getting about 10 cents on the dollar. The mine then became a federal responsibility and Ottawa committed to cleaning it up.
• Tourism is now one of the primary industries in Faro.
• The population of Faro stands at about 400 as of 2004.
• After the mine's closing came a series of court challenges and appeals over the distribution of its assets to creditors. The dispute was ended by a Supreme Court ruling in March 2003, with creditors getting about 10 cents on the dollar. The mine then became a federal responsibility and Ottawa committed to cleaning it up.
• Tourism is now one of the primary industries in Faro.
Medium: Television
Program: The Journal
Broadcast Date: Dec. 12, 1984
Guest(s): Lorraine Beal, Mario Murphy, Mike Nicholson, Chris Pearson, Ray Proulx, Judy Proulx, Frank Redmond
Host: Bill Cameron, Peter Mansbridge
Reporter: Mary Lou Finlay
Duration: 16:42
Program: The Journal
Broadcast Date: Dec. 12, 1984
Guest(s): Lorraine Beal, Mario Murphy, Mike Nicholson, Chris Pearson, Ray Proulx, Judy Proulx, Frank Redmond
Host: Bill Cameron, Peter Mansbridge
Reporter: Mary Lou Finlay
Duration: 16:42
Last updated: August 22, 2012
Page consulted on March 27, 2013
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