Canada orders three Chinese companies to get out of the shareholding of three local lithium miners

The Government of Canada issued a requirement late on Wednesday for three Chinese companies to sell their stakes in three local mining companies with operations in the lithium sector .

“While Canada continues to welcome foreign direct investment, we will act decisively when investments threaten our national security and our supply of critical minerals,” said François-Philippe Champagne , Minister for Innovation, Science and Industry .

Canada claims lithium

Specifically, the Executive has ordered Sinomine (Hong Kong) Rare Metal Resources to leave Power Metals Corp; to Chengze Lithium International to abandon the capital of Lithium Chile; and Zangge Mining Investment to sell its holdings in Ultra Lithium.

“The Government’s decisions are based on facts and evidence and on the advice of experts in critical minerals matters, as well as in the Canadian security and intelligence community and other government partners,” the minister added.

Champagne has added that these types of minerals are “essential” to ensure the country’s green and digital transitions. Thus, the Government sees these resources as a “generational economic opportunity” for the country.

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