The Canadian government has rejected Shandong Gold Mining’s bid to acquire Canada’s debt-saddled TMAC Resources, the companies said, with the Chinese miner adding that the sale was blocked on national security grounds.
As the COVID-19 pandemic has caused economic dislocation, countries from Australia to Canada have increased scrutiny on deals by state-run Chinese miners this year.
Canadian Prime Minister Justin Trudeau has faced pressure from opposition Conservative politicians to toughen the country’s stance on China.
Canada’s department of Innovation, Science and Economic Development, which oversees foreign investment, did not immediately respond to a request for comment.
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