MPs Call for Review of Chinese Firm’s Acquisition of Shares in Canadian Rare Earth Mining Company

Conservative MPs are calling for a national security review of a Chinese company’s plan to acquire substantial shares in Vital Metals, a Canadian rare earth mining company. This move follows a recent government directive to exclude three Chinese firms from the Canadian critical mineral industry. On Dec. 8, Conservative MPs Rick Perkins, shadow minister for innovation, and Shuvaloy Majumdar issued a joint statement on the platform X, urging the innovation minister to leverage his powers and launch a review of the proposed acquisition of Vital Metals shares by Shenghe Resources, a Chinese company partially owned by the Chinese state. “China’s acquisition are once again threatening Canada’s economic security,” reads the statement....