Ottawa restricting foreign state-owned investments in critical mineralsOTTAWA — The federal government is restricting the involvement of foreign state-owned companies in Canada's critical minerals sector amid a global rush for the resources and growing tensions with China. Industry Minister Francois-Philippe Champagne and Natural Resources Minister Jonathan Wilkinson announced the new approach in a statement Friday, saying critical minerals are key to Canada’s prosperity and security. The new rules come as companies and countries around the world are moving to secure critical minerals such as aluminum, lithium and cobalt, many of which are vital for electronics and low-carbon technologies including semiconductors, batteries and electric-vehicle motors. The rules also coincide with growing tensions with China, which has purchased or invested in Canadian mines and other natural resources to feed its own domestic industries. The federal government is expected to release by the end of the year what it is calling a critical minerals strategy, which will seek to position the country as a leader in supplying the resources to industries and other countries around the world.

Source: CBC News October 28, 2022 21:33 UTC