On Wednesday Canada’s industry minister, François-Philippe Champagne, said three Chinese companies would be required to divest from junior mining companies.
“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,” Champagne said in a written statement.
The order comes after a “multi-step” review by Canada’s national security and intelligence agencies, which determined that the three companies must leave the Canadian mining industry on national security grounds.
Critical minerals and metals include lithium, cadmium, nickel and cobalt. They are essential for clean energy technologies, including turbines and electric cars and solar panels. They are also a necessary part of laptop computers and rechargeable batteries.
In recent years, China has become the largest refiner and processor of critical minerals, building an extensive supply chain that relies on overseas mines for raw materials.
