A royalty is a share of the profits from a Yukon mine. It's paid by the mine operator to the Government of Yukon for the right to mine Yukon's mineral resources. It is not a tax.
The Government of Yukon provides companies with guidance to assist in filing their annual royalty return.
The Government of Yukon also administers the royalty determination for Selkirk First Nation. This is because the Minto Mine is located on Selkirk First Nation Category A Settlement Land.
The quartz royalty is based on a mine’s revenue minus allowable deductions. The rates are broken out into a royalty ladder with increasing royalty percentages paid for higher overall revenue.
Quartz mining royalty rates
When the value of output is:
- $10,000 or less: 0 per cent
- More than $10,000 but not exceeding $1 million: 3 per cent
- More than $1 million but not exceeding $5 million: 5 per cent
- More than $5 million but not exceeding $10 million: 6 per cent
- More than $10 million but not exceeding $15 million: 7 per cent
- More than $15 million but not exceeding $20 million: 8 per cent
- More than $20 million but not exceeding $25 million: 9 per cent
- More than $25 million but not exceeding $30 million: 10 per cent
- More than $30 million but not exceeding $35 million: 11 per cent
- More than $35 million: 12 per cent
Placer mines must pay a royalty on all gold exported out of Yukon. It does not matter if the gold is in the form of gold dust or bars.
The royalty is $0.375 per ounce of gold.
This royalty is calculated at 2.5 per cent of the value of the gold. The value of gold is set in legislation at $15 per ounce.
If you have a coal lease, you need to pay annual royalties on the coal you mine.
The royalty rate is $0.10 per ton ($0.11 per tonne).
You must:
- pay your royalty at the district Mining recorder's office, within 1 month of the last day of each year of the term of your lease; and
- submit a sworn statement showing the amount of coal you removed from your lease.