The Liberal government allowed a Chinese state-owned company to bid on a Canadian lithium mining operation without launching a formal national security review into the purchase.
As reported by the Globe and Mail, Chinese firm Zijin Mining and Canadian Neo Lithium Corp. have agreed to an acquisition and are close to completing their business deal.
The deal has been in the making since October when Zijin Mining first announced that it was looking at buying the Toronto company for a price tag of $960 million.
In 2021, Canada categorized lithium as a critical mineral. Lithium is predominantly used to manufacture electric vehicle batteries and is a comparatively rare element.
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