Chinese Firm Looks to Acquire Vancouver Lithium Company Shares Despite Ottawa’s Toughening Stance

Published on March 8, 2024

Another Chinese firm is seeking to acquire shares of a Vancouver-based lithium company, a move that defies Ottawa’s efforts to safeguard the sensitive critical mineral sector from China’s involvement. In 2022, Innovation Minister Francois-Philippe Champagne directed three Chinese companies to divest from Canadian lithium firms, aiming to restrict foreign government investments in the critical minerals supply chain, saying that he would only allow Chinese state-owned firms to invest in Canadian critical minerals companies under exceptional circumstances. The federal government reiterated this stance in an August 2023 statement, clarifying the application of the Investment Canada Act for foreign state-owned enterprises seeking to invest in Canada’s critical minerals sector....

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