Yukon lease expires, Yukon loses $3.6 billion in 2018-19

Yukon leases expired June 30, 2018, and Yukon will lose $3 billion in 2019-20, according to Yukon’s financial statements filed with the Securities and Exchange Commission.

The Yukon Economic Development Corporation, the agency that manages Yukon Lands, said it has not yet determined what, if any, of the leases is for and what, and if any new agreements are needed.

The financial statements were filed with Canada’s Financial Transactions and Reports Analysis Centre.

The Finance Ministry is expected to release its own financial projections for 2019-2020 in the coming months.

The lease of the territory’s only coal-fired power plant was originally scheduled to expire at the end of 2020.

The government is hoping to buy power from Yukon Power to offset the loss in 2019.

The province is also considering selling the lease of its coal-mining assets.