Reported 8 months ago
Canada's government intervened to prevent a Chinese buyer from acquiring rare earth materials by facilitating a deal where Vital Metals Ltd. will sell its stockpiled rare earth material to the Saskatchewan Research Council for C$3 million instead of selling to China's Shenghe Resources Holding Co. The move is part of a broader effort to limit Chinese involvement in Canada's critical minerals sector led by Prime Minister Justin Trudeau's government, which has been scrutinizing transactions between domestic mining companies and Chinese firms and approving deals only under exceptional circumstances.
Source: YAHOO