CANADA ordered three Chinese firms to divest from a trio of small lithium miners based in the country, days after introducing tougher rules on foreign investments in the nation’s critical minerals sectors, reports Hong Kong’s South China Morning Post.
Sinomine (Hong Kong) Rare Metals Resources is required to divest in Vancouver-based Power Metals Corp, while Chengze Lithium International (also based in Hong Kong) must exit from Calgary-based Lithium Chile. Zangge Mining Investment (Chengdu), was ordered to divest from Ultra Lithium, based in Vancouver, Canada’s federal government said in a statement.
The government ordered the divestiture after a ‘rigorous scrutiny’ of foreign firms by Canada’s national security and intelligence community, said Industry Minister Francois-Philippe Champagne.
