Reported 8 months ago
As China ramps up its electric vehicle production and global acquisition of strategic rare earth minerals, Canada has taken action to prevent Chinese buyers from acquiring Vital Metals' rare earth resources in the Northwest Territories. Through a joint venture, the Canadian federal government and Saskatchewan purchased the rare earth resources in order to secure the global mineral supply chain, as Canada views Nechalacho as a key asset in countering China's control over critical minerals. This move follows other instances where Canada has tightened regulations to prevent Chinese investment in key mineral resources.
Source: YAHOO