Natural Resources
The Yukon has abundant mineral resources and mining was the mainstay of the economy until recently. Abundant gold was found in the Klondike region leading to the Klondike Gold Rush of 1898. Placer gold is found in many streams and rivers, and there is an active placer mining industry in the Klondike and many other parts of the Yukon to this day.
Other minerals that have been actively mined include copper in the Whitehorse area, lead and zinc in Faro, silver, zinc and lead in the Mayo/Keno City area, asbestos in Clinton Creek, and copper, gold, and coal in the Carmacks area. The world's largest known deposit of tungsten is in the Macmillan Pass area in the Mackenzie Mountains near the Northwest Territories border. Non-metallic minerals mined have included jade and barite.
The fur trade was very important to the Yukon First Nation economy, but low prices and the impact of animal rights activists have devastated the traditional economy.
There are three hydroelectric generating stations in the Yukon: one at Schwatka Lake in Whitehorse, another near Mayo and a third on Aishihik Lake.
While the Yukon is mostly covered with forests, most of the trees are small and take a long time to grow and regenerate because of the dry cold climate. There is a considerable amount of small scale logging, but the only area that can sustain industrial forestry is in the southeast with its wetter climate. However, distance from markets and fluctuating prices have resulted in a boom-and-bust industry.
A small amount of natural gas is currently produced in the southeast, but little exploration has been done in other parts of the Yukon. It is believed that there are abundant natural gas fields in the Eagle Plains area along the Dempster Highway and possibly in the Whitehorse area, but distance from pipelines has hampered exploration.
Read more about this topic: Geography Of Yukon
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