Mining was a factor in the past for Mayo and could well be a factor in the future. While mining is weak throughout the Yukon, the Mayo area encompasses a number of new projects and an old, productive mine. All of them are potential sources of employment, but they are all waiting for the same thing: a turnaround in the price of precious and base metals. Although prices have recovered somewhat, in real terms, metal prices are near their lowest levels since modern mining started. In addition, most companies need to raise outside capital, which is difficult when the equity market does not favour an industry sector. As a result, development or production funds are hard to find, no matter how valuable the mineral deposit might be. Zinc, a mainstay of Yukon and Mayo-area mining, has started to see higher prices; these may continue to increase.
Keno Hill, the area's largest mine, is in receivership. The Dublin Gulch hardrock gold project is in the permit application process. Creating and extending tourism activity will provide more opportunities and jobs than will mining in the near term. Positive factors for tourism include the history of the area, the potential for combining trips to Dawson City and Mayo, local hiking routes, and a growing capacity to provide services for tourists. The development of adventure tourism businesses and the ability to offer a slate of activities are important factors in attracting tourists to the area for longer visits.
Administration and community development are becoming more important in Mayo. These fields require skills in financial areas, information handling, organizing people and computer use. Tourism occupations are varied, but will require small business management skills and very good communications skills.
