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Board of directors for Minto Metals quits after company pulls out of Yukon copper mine

The Minto Mine in central Yukon. Minto Metals, the mine's operator, announced Saturday it was ceasing operations at the mine. On Tuesday, the company said its board of directors had resigned. (Capstone Mining Corp. - image credit)
The Minto Mine in central Yukon. Minto Metals, the mine's operator, announced Saturday it was ceasing operations at the mine. On Tuesday, the company said its board of directors had resigned. (Capstone Mining Corp. - image credit)

The entire board of directors for Minto Metals has resigned, days after the company announced it was stopping operations at Minto Mine in the Yukon.

Board members Gati Al-Jebouri, Lazaros Nikeas and Derek White resigned effective May 12, while Joe Phillips, Chris Stewart and Jay Johnson resigned effective May 13.

Two vice-presidents also announced their resignations Tuesday: Tracy Dormer and Loralee Johnstone, who resigned May 5 and May 13, respectively.

Minto Metals issued a news release about the resignations Tuesday. It didn't give reasons for the resignations.

However, on Saturday, the company announced in a news release it had ceased all operations at the copper-gold mine near Pelly Crossing. The mine had been in operation since 2007.

The territory has stepped in to secure the site and make sure water treatment continues.

About 180 mine staff and subcontractors were employed with the company to operate the mine.

In late April, the company reported "challenging and disappointing" results for the first quarter of 2023 in its quarterly update. At the time, the company said it hoped to regain its momentum later in the year.