In a remarkable move, the government of Canada has ordered three Chinese companies to divest their holdings in Canadian critical minerals companies such as lithium.
“While Canada continues to welcome foreign direct investment, we will act decisively when investments threaten our national security and our critical minerals supply chains, both at home and abroad,” says a statement from the Canadian government.
The three companies ordered to divest their investments are Sinomine (Hong Kong) Rare Metals Resources Co Ltd, Chengze Lithium International Ltd, also based in Hong Kong, and Zangge Mining Investment (Chengdu) Co Ltd.
Sinomine is to sell its stake in Power Metals Corp, Chengze Lithium is to sell its stake in Lithium Chile Inc. and Zangge Mining is to leave the investor base of Ultra Lithium Inc.
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