In a significant move, Canada’s government has ordered three Chinese companies to sell their stakes in Canadian critical mineral companies such as lithium.
“While Canada continues to welcome foreign direct investment, we will act decisively when investment threatens our national security and our critical mineral supply chains at home and abroad,” the Canadian government said in a statement.
Three companies, Sinomine (Hong Kong) Rare Metals Resources Co Ltd, Hong Kong-based Chengze Lithium International Ltd and Zhangke Mining Investment (Chengdu) Co Ltd, have been asked to withdraw their investments.
Sinomine to sell its stake in Power Metals Corp, Chengze Lithium to sell its stake in Lithium Chile Inc and Zhangye Mining to exit Ultra Lithium Inc’s investor base.
reuters.com, Canada.Approx
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