04:05:56 EDT Sat 27 Apr 2024
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,755,467,937
Close 2023-09-25 C$ 20.94
Market Cap C$ 36,759,498,601
Recent Sedar Documents

Post says Barrick, Ivanhoe lament critical minerals law

2023-09-26 09:34 ET - In the News

Also In the News (C-IVN) Ivanhoe Mines Ltd

The Financial Post reports in its Tuesday edition that Canada shocked its mining sector a year ago with a policy that changed the way the industry viewed investments from foreign businesses. The Post's Naimul Karim writes that the policy, released in October, made it more difficult for foreign businesses, either owned or influenced by "non-like-minded" nations, to own or take a stake in Canada's critical minerals sector, saying that such a situation could be considered "injurious to national security" under the Investment Canada Act. Canada considers 31 minerals, including lithium and copper, as critical due to the key roles they are expected to play in the transition away from energy produced from fossil fuels. A few days after the policy was released, Ottawa ordered three Chinese companies to divest their shares from three Canadian lithium companies. Back then, some analysts described the move as part of an overarching plan by the United States and Canada to redesign their supply chains to lessen their reliance on China. Among leading mining promoters, Ivanhoe's Robert Friedland and Barrick's Mark Bristow said the move would make it more difficult for miners to produce the metals needed for the energy transition.

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