Canada Orders Chinese Companies To Divest From Critical Materials Operations

The government of Canada has ordered three Chinese companies to divest their holdings in companies doing business in Canada. Here is the official statement from François-Philippe Champagne, Minister of Innovation, Science and Industry:

Sinomine Rare Metals Resources Co., Limited is required to divest itself of its investment in Power Metals Corp. “The government’s decisions are based on facts and evidence and on the advice of critical minerals subject matter experts, Canada’s security and intelligence community, and other government partners.

“Critical minerals are essential to powering the green digital economy of tomorrow. Increasing demand for these all-important minerals are presenting Canada with a generational economic opportunity. We are committed to seizing that opportunity while delivering on the country’s ambitious climate goals.

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