Natural Resources Minister Jonathan Wilkinson has confirmed that the Canadian government will not make Chinese state investors divest their shares in three of Canada’s biggest mining companies. Speaking at a conference in Toronto, Wilkinson stated that retrospectively addressing foreign investments would be detrimental, creating uncertainty in determining whether an investment is genuine. Chinese state-owned enterprises remain the largest single shareholders in each of the three firms, Teck Resources, Ivanhoe Mines Limited, and First Quantum Minerals Limited. The government will continue trading with China, which includes trading in critical minerals such as lithium, copper, and cobalt. The statement comes several months after the Innovation Minister ordered three Chinese companies to sell their investments in Canada’s critical minerals sectors, to secure Canadian critical minerals supply chains.
Canadian government not mandating Chinese state investors to divest from 3 mining firms.
