Representatives of the Chinese government say Canada was “wrong” to reject the proposed takeover of an Arctic gold mine by a state-owned company, the latest jab in an already-fraught relationship between the two countries.
Canada on Tuesday rejected the proposed takeover of Toronto-based TMAC Resources Inc. by China’s Shandong Gold Mining Co. Ltd., citing national security concerns. Under the deal, Shandong would have paid $230 million not including debt to acquire the Canadian firm, which is developing a gold mine in Hope Bay, Nunavut.
In response to questions by the National Post on Wednesday, the Embassy of the People’s Republic of China in Ottawa said the decision amounted to the “politicization of normal economic cooperation” between China and Canada.
Embassy officials said blocking the transaction interferes with “mutually beneficial” relations between the two countries, saying that “political interference with the excuse of national security is wrong.”
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