Champagne's order comes less than a week after he said Canada would be limiting the involvement of foreign state-owned companies in the industry.
But China does not produce a lot of the minerals, and has instead invested heavily in overseas mines in places like Canada to acquire the raw materials it needs. The Investment Canada Act subjects foreign investments to review for national security concerns and Champagne said critical mineral investments get"enhanced scrutiny."
Chengze Lithium International Ltd. is required to divest its interests in Lithium Chile Inc., a company headquartered in Calgary with more than a dozen lithium projects underway in Chile. They point to the instability created by Europe's reliance on Russia for oil and gas after the Russian invasion in Ukraine last winter, and growing tensions with China as reasons to ensure supply chains rest mostly in the hands of friends and allies.
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Ottawa seeks to cut China out of Canadian critical mineral industry - National | Globalnews.caChampagne's order comes less than a week after he said Canada would be limiting the involvement of foreign state-owned companies in the industry.
Source: GlobalNational - 🏆 81. / 51 Read more »
Federal government moves to cut China out of Canadian critical mineral industryThe order requires Sinomine (Hong Kong) Rare Metals Resources to sell its investment in Vancouver\u002Dbased Power Metals Corp., which has exploration projects for… Good news Can we ask why China was part of our critical mineral industry or would that make me a “conspiracy theorist”? Not sure why they needed to do this. Unless it was to piss China off (a rare thing) or just virtue signaling. The exploration money was welcome. They could restrict the export of the mineral if it was ever mined and produced. Lots of options if they wanted to control the metals.
Source: VancouverSun - 🏆 49. / 61 Read more »
Federal government moves to cut China out of Canadian critical mineral industry | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Source: natnewswatch - 🏆 58. / 59 Read more »
Federal government moves to cut China out of Canadian critical mineral industry | CBC NewsAfter a national security review, Innovation Minister François-Philippe Champagne is ordering three Chinese resource companies to sell their interests in Canadian critical mineral firms. About time now if the rest of cabinet stood up they could turf the fool JustinTrudeau Why are we so stupid and naïve here in the west? Chinese companies should have never been allowed to buy into Canada’s resource industry…let see if a Canadian company can try that in China. Cool, now let's stop trading with them and stop allowing travel from china until they can assure us they won't infect us with another disease.
Source: CBCNews - 🏆 2. / 99 Read more »