Questions linger a year after Canada placed curbs on foreign companies to protect critical minerals

  • 📰 fpinvesting
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Canada shocked mining sector a year ago with a policy that changed how miners see investment opportunities from foreign businesses. Read on.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 43. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Questions linger a year after Canada placed curbs on foreign companies to protect critical mineralsIndustry uncertainty remains with Ottawa's divestment orders dominating discussions in the mining world over the past year
Source: YahooFinanceCA - 🏆 47. / 63 Read more »