"The ICA review process could be lengthy and unpredictable, leading to uncertainty for potential investors and may make it more difficult for junior miners to attract investments," said Stephen Payne, who runs the energy and natural resources team at consultancy BDO Advisory.
"The effect of these orders was to spook investors and likely drive capital and mining entrepreneurs to other jurisdictions," said Paul Fornazzari, an attorney for one of the companies forced to shed its Chinese investors. "We are determined to work with Canadian businesses to attract foreign direct investments from partners that share our interests and values," said a spokesperson for Industry Minister Francois Philippe Champagne.
A miner is a profession with a presence