On 28th October 2022, Canada tightened its regulations to protect critical mineral sectors from foreign state-owned enterprises. The ever-growing demand and limited supply of critical minerals present Canada with a generational economic opportunity, and the government is increasingly focusing to capitalize on that opportunity while meeting its ambitious climate goals. The country intends to continue collaboration with countries that support Canada's goal and declared to take immediate action if any foreign investment threatens the country's mineral supply chain or national security. Furthermore, the new strategic decision is part of the "Critical Mineral Strategy," which aims to position Canada as the global supplier of choice for critical minerals.
Canada Initiated Actions to Reduce Foreign Investments
The Canadian government ordered three Chinese companies to give up their stakes in a trio of small Lithium miners based in the country as part of new regulations intended to reduce foreign state ownership in the country's mining sector. The three Chinese companies include Sinomine (Hong Kong) Rare Metals Resources Co. Ltd., Chengze Lithium International Ltd., and Zangge Mining Investment (Chengdu) Co. Ltd. The three companies were subjected to a multi-step national security evaluation procedure, that included scrutiny from Canada's national security and intelligence communities."
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