Another deep-pocketed China-based buyer is attempting to invest in a Canadian critical-minerals company, even as Ottawa fires a warning shot that it is monitoring such deals closely, and prepared to intervene.said it had attracted a US$70-million investment from China-based Ganfeng Lithium, which would see it take a 15-per-cent stake in its Pastos Grandes project.
. Lithium Americas, Lithium Argentina’s predecessor company, ended up topping CATL’s offer for Millennial.but did not mention that it would be subject to a probe by Ottawa.The federal government under the Investment Canada Act has the power to review and ultimately block foreign investments into Canadian companies, if it believes it to be a threat to national security.
At that time, he also ordered three China-based companies with ties to Beijing to divest themselves immediately of their stakes in three Canadian lithium development companies.