Nov 03, 2022 08:52 PM

BUSINESS

Three Chinese Miners Ordered to Divest From Canadian Lithium Projects

By Guo Yingzhe and Lu Yutong

François-Philippe Champagne, Canada's minister of innovation, science and industry. Photo: VCG

François-Philippe Champagne, Canada's minister of innovation, science and industry. Photo: VCG

The Canadian government has ordered three Chinese firms to scale back their investment in lithium miners in the country, citing national security concerns over the supply of critical minerals and the nation’s green goals.

The subsidiaries of Zangge Mining Co. Ltd. (000408.SZ), Chengxin Lithium Group Co., Ltd. (002240.SZ) and Sinomine Resource Group Co. Ltd. (002738.SZ) were told Wednesday to begin divesting from Ultra Lithium Inc., Lithium Chile Inc., and Power Metals Corp. respectively.

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