Canada orders Chinese companies to sell lithium assets
Three Chinese companies have been ordered to sell lithium mining assets in Canada after the country’s government imposed limits on foreign involvement in supplying “critical minerals” used in batteries and high-tech products
OTTAWA, Ontario (AP) — Three Chinese companies have been ordered to sell lithium mining assets in Canada after the country's government imposed limits on foreign involvement in supplying “critical minerals” used in batteries and high-tech products.
The order Wednesday comes amid rising tension between the West and China over control of sources of lithium, rare earths, cadmium and other minerals used in mobile phones, wind turbines, solar cells, electric cars and other emerging technologies.
Chinese miners are investing in production in Africa, Latin America, Canada and elsewhere as the ruling Communist Party encourages development of electric car, clean energy and other tech industries.
Innovation Minister Francois-Philippe Champagne last week announced curbs on involvement of foreign state-owned companies in producing “critical minerals.” He said investment of any size would be approved only on an “exceptional basis.”
