Canada will not force Chinese state-investors in three of its large mining companies to divest stakes, as such a move would create policy uncertainty, the natural resources minister told Reuters.
Three of Canada’s largest mining companies – Teck Resources, Ivanhoe Mines Limited and First Quantum Minerals Limited, – count Chinese state-owned enterprises as their biggest single shareholder. Shares in First Quantum were up 3.6% on Wednesday, also helped by news that Panama’s government and the miner had agreed on the final text for a contract to operate a key copper mine. Ivanhoe gained 2%, while Teck climbed 1.3%.
Canada and its allies are looking to decouple from China in an attempt to diversify their supply chain in battery metals.
globebusiness Good
Thank stephenharper and FIPA for this.
They did approve the purchase of Canada's NeoLithium by Zijin Mines China but did divest of Chinese investment in three other mines.
Teck has to attract foreign investors because the average Joe Canadian has nothing left to invest after taxes. Carbontax
why did they approve them. only now when the heat is on do they say they are concerned. it was brought up when in approval process but JustinTrudeau liberal_party are just corrupt
Of course not! That would actually be proactive, and the Trudeau Liberals are not known for proactivity.
Again and again and again the Liberals let the Chinese get away with controlling stakes in Canadian resources.
globebusiness Have they learned nothing? It is time for a major house cleaning in Ottawa.
Our politicians have sold our country and the public out. Shameless
Wilkenson is also on the take
why, genius?
The Liberal Party of Canada kowtows to its Master, Emperor Xi of China. 習皇萬歲！
China didn't spend years and millions of dollars cultivating and assisting Liberal election wins, just because they thought Trudeau was dreamy. They definitely expected and received a return in their investment.
JonathanWNV is clearly a Chinese asset- just like TraitorTrudeau