A small Chinese\u002Downed mine in Manitoba, one of Canada\u0027s two lithium producers, hopes to expand against the odds. Find out more.
“Regardless of the things going on in the political background, Sinomine itself, ultimately, is a publicly traded company and from our side we want to be responsible and a good corporate citizen, not only here, but anywhere,” he said. “I don’t think it was worth the time and investment in trying further rebuttals .”
A week later, Canada’s industry minister said the federal government had decided to order three Chinese companies to exit three Canadian lithium miners following a “multi-step national security review process.” China’s foreign ministry criticized the move at the time, with a spokesperson saying it went against the principle of a market economy and international trading rules.
In March, Canada’s industry minister, François-Philippe Champagne, was asked at a press conference if he might try to nationalize the Tanco mine. He mentioned the limitations of the Investment Canada Act, but added he was hoping to modernize the act to increase the authority of the minister with an eye on forthcoming deals.
Tanco has an annual lithium production target of 30,000 tonnes, while North American Lithium, the only other project in Canada producing the metal, aims to extract 226,000 tonnes of lithium annually. The operation is owned by two Australian companies and started commercial production in March.
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