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Ottawa order that Chinese companies divest shares in miners created 'concern, uncertainty': TSX

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Ottawa\u0027s order that Chinese companies divest stakes in publicly traded Canadian miners hurt Canada\u0027s reputation as a safe place to invest. Read on.

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McPherson added: “A big question that came up for instance was, ‘Is this going to stop here or is there more?’”In November, three Canadian miners listed on the TSX Venture exchange — Power Metals Corp., Lithium Chile Inc. and Ultra Lithium Inc. — were told by the government that their Chinese investors Sinomine Rare Metals Resources Co., Chengze Lithium International Ltd. and Zangge Mining Investment Co., respectively, needed to sell their stakes in the companies.

McPherson said he wasn’t criticizing the government’s policy. He said the shift was necessary under the current geopolitical environment in which democratic nations in the West are looking to form allies to strengthen their supply chains in the face of increased competition for influence from China, Russia and other autocratic states.

 

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Ottawa order that Chinese companies divest shares in miners created 'concern, uncertainty': TSXOttawa\u0027s order that Chinese companies divest stakes in publicly traded Canadian miners hurt Canada\u0027s reputation as a safe place to invest. Read on.
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