The production of many electronic products in the market relies on rare metals. In order to obtain mineral resources such as lithium, rare earth, and cadmium, Chinese mining companies have been actively investing in Africa, Latin America, Canada and other places in recent years to cooperate with the Chinese government’s vigorous promotion of electric vehicles, clean Development of energy and other technology industries.
Francois-Philippe Champagne, Minister of Innovation of the Canadian government announced last week that foreign companies will be restricted from participating in the production of “critical minerals”. He said that regardless of the size of the investment, it will only be approved by the government in “extraordinary circumstances”. Three Chinese companies were ordered to sell their lithium mining operations in Canada. The companies involved include China Mining (Hong Kong) Rare Metal Resources Co., Ltd., Shengze Lithium International Co., Ltd., and Zangge Mining Investment, all of which are required to sell their investments involving Canadian “critical minerals” within 90 days of the issuance of the government letter.
The Chinese government criticized the Canadian government’s order for violating market principles and asked Canada to withdraw the decision. Foreign Ministry Spokesperson Zhao Lijian pointed out that Canada extends the concept of national security and imposes obstacles in the normal investment and trade of Chinese and Canadian companies. He urges Canada to stop inappropriately suppressing Chinese companies and provide a fair, just and non-discriminatory environment for business operations.
Data and picture sources:autoblog
unwire.hk Mewe page: https://mewe.com/p/unwirehk