19:55:42 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Lithium Chile Inc
Symbol LITH
Shares Issued 206,224,157
Close 2024-04-08 C$ 0.77
Market Cap C$ 158,792,601
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Globe says Lithium Chile COO pans stance on China

2024-04-08 07:21 ET - In the News

The Globe and Mail reports in its Saturday edition that confusion about whether Chinese investment is welcome in the Canadian critical minerals sector is fuelling investor uncertainty. The Globe's Niall McGee writes that in late 2022, Ottawa said it would allow investment from China only under exceptional circumstances, but it did not specify what those circumstances would be. In the absence of clarity over what is and is not allowed, Chinese investors have continued to attempt deals with Canadian mining companies. Meanwhile, some deals that Ottawa has permitted have baffled experts, as have some that were blocked. Late last year, China-based Shenghe Resources acquired a 10-per-cent interest in Australia-based Vital Metals, which owns Canada's only operating rare earths mine. Shenghe was also allowed to purchase Vital's stockpile of rare earths that were mined in the Northwest Territories. Lithium Chile chief operating officer Michelle DeCecco is mystified that Ottawa allowed the Vital deal to proceed, but has routinely prevented Canadian mining companies with critical minerals assets abroad that are not part of the domestic supply chain from attracting Chinese investors. She says Ottawa has it "completely backward."

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