In a notable move, the Canadian government has ordered three Chinese companies to sell their stakes in important Canadian mineral companies such as lithium.
“While Canada continues to welcome foreign direct investment, we will act decisively when the investment threatens our national security and our vital mineral supply chain at home and abroad,” the Canadian government said in a statement.
The three companies that have been asked to divest their investments are Sinomine (Hong Kong) Rare Metals Resource Co Ltd, Hong Kong-based Chengzhe Lithium International Ltd and Zang Mining Investment (Chengdu) Co Ltd.
Sinomine is to sell its stake in Power Metals Corp., Changz Lithium is to sell its shares in Lithium Chili Inc. and Zang Mining is to exit Ultra Lithium Inc.’s investor base.
Reuters.com, canada.approx
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Claire Montgomery is a contributor to CA News Ottawa, covering news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on clear, accurate reporting and useful information that helps readers stay informed about current affairs and developments that shape their communities. Her work highlights relevant stories, emerging trends, and important issues, presenting them in a balanced, accessible, and reader-friendly manner.
