Cleanup of one of the most contaminated sites in Canada is estimated to cost taxpayers more than four times what was initially expected.
The Treasury Board of Canada recently approved a new $4.38-billion cost estimate for the remediation of Giant Mine, a former gold mine that operated from 1948 to 2004 within Yellowknife city limits.
The federally led project was estimated to cost just under $1 billion in 2013, but that did not take into account inflation, contingency and project management costs, as well as the fact that remediation plans have since expanded.
“We’ve heard from our rights and stakeholders and we’ve improved the project since the original cost estimate came out,” said Natalie Plato, deputy director of the Giant Mine Remediation Project. “We think this is a very positive initiative for Yellowknife and the surrounding area.”…