The U.S. passed the Inflation Reduction Act last year, which includes several tax benefits for businesses such as a tax credit of up to US$7,000 for electric vehicles made primarily in North America or its allies.. For example, billionaire miner Robert Friedland and Mark Bristow, chief executive of Barrick Gold Corp, the world’s second-largest gold company, said the move would make it more difficult for miners to produce the metals needed for the energy transition.
DeCecco was a bit more surprised than executives at the other two miners when the government asked their Chinese investors to exit since Lithium Chile’s mining projects were based outside Canada, specifically Chile and Argentina. As a result of the government order, “numerous” miners with foreign assets are not incorporating in Canada and those who already have are looking to relocate their headquarters, DeCecco said. But the TMX Group, one of the most popular exchanges for miners globally, said it didn’t have data to support that claim.
In terms of acquisitions and mergers, miners have to think about Canada’s regulatory issues and discuss them with potential buyers at an early stage.There could be a few cases coming up for the Canadian government to understand just how far the powers the ICA gives it could go when a buyer is from a country that “One of the potential cases might be linked to Brazilian miner Vale SA’s decision in July to sell 10 per cent of its base-metal unit to a company owned by the government of Saudi Arabia.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: AutoNewsCanada - 🏆 77. / 51 Read more »