By Canadian Press

Ottawa restricting foreign state-owned investments in critical minerals

Oct 28, 2022 | 1:17 PM

OTTAWA — The federal government is restricting the involvement of foreign state-owned companies in Canada’s critical minerals sector.

Industry Minister Francois-Philippe Champagne and Natural Resources Minister Jonathan Wilkinson say critical minerals are key to the country’s prosperity and security.  

They say that is why Ottawa is rolling out new rules that will make it more difficult for companies owned or operated by foreign governments to buy or invest in the industry.

The new rules come amid a global rush to secure critical minerals, many of which are vital for electronics such as 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.

IN THE COMMUNITY

'Compassionate Friends' offer peer support for bereaved in Medicine Hat

11h ago

POSTAL STRIKE

Donations to Medicine Hat non-profits drop over Canada Post strike

11h ago

IN THE COMMUNITY

Medicine Hat's Adopt-A-Rink program still seeking volunteers

19h ago

The federal government is developing what it calls a critical minerals strategy, which will seek to position the country as a leader in supplying the resources to industries and countries around the world. 

This report by The Canadian Press was first published Oct. 28, 2022.

The Canadian Press