• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 days The United States produced more crude oil than any nation, at any time.
  • 2 hours Could Someone Give Me Insights on the Future of Renewable Energy?
  • 8 days How Far Have We Really Gotten With Alternative Energy
Small Banks Significantly Boost Loans to Oil And Gas Firms

Small Banks Significantly Boost Loans to Oil And Gas Firms

Regional banks BOK Financial, Citizens…

The Oil Price Rally Has Stalled... For Now.

The Oil Price Rally Has Stalled... For Now.

Oil prices have been climbing…

Canada Orders Chinese Companies To Divest From Its Critical Minerals Sector

The Canadian federal government has ordered three Chinese companies to sell their stakes in Canadian businesses involved in critical mineral production, after a national security review.

The order, which came from innovation minister Francois-Philippe Champagne, aims at limiting foreign company participation in Canada’s resource sector, especially in the critical mineral segment, according to Global News.

“While Canada continues to welcome foreign direct investment, we will act decisively when investments threaten our national security and our critical minerals supply chains, both at home and abroad,” Champagne said in a statement.

China has emerged as a major thorn in the side of the U.S. and Canada with respect to their transition ambitions, which include turning the two countries into major sources of critical minerals such as lithium, cobalt, and copper.

However, while both the U.S. and Canada have spent decades trying to shrink their mining industries as they transformed from industrial to post-industrial economies, China has been expanding its critical mineral supply chain. To date, the country is the biggest processor of rare earths in the world, for instance, and also the biggest lithium processor.

The three Chinese companies that were ordered to divest their interests, had these interests in companies involved in lithium mining, both in Canada and abroad, including in Chile and Argentina.

Because of China’s undisputable dominance in the critical minerals sector, the U.S. and Canada are also discussing the idea of so-called friend-shoring: sourcing critical minerals and metals from friendly jurisdictions only, which would naturally exclude China.

China’s processing capacity, however, remains quite a challenge, even if the friend-shoring idea gets the backing of more resource-rich nations. Even if the U.S. and Canada find a way to source their minerals either at home or from friendly countries, processing might need to take place in China for the observable future.

ADVERTISEMENT

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News