02:20:43 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



SRG Mining Inc
Symbol SRG
Shares Issued 117,000,000
Close 2024-03-04 C$ 0.54
Market Cap C$ 63,180,000
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Globe says feds have SRG Mining in its sights

2024-03-05 07:48 ET - In the News

The Globe and Mail reports in its Tuesday edition that Industry Minister François-Philippe Champagne is challenging the legitimacy of SRG Mining's plan to relocate to the Middle East so it can skirt a national-security review related to a proposed financing deal with a Chinese buyer. The Globe's Niall McGee writes that Montreal-based SRG Mining announced last summer that China-based Carbon One New Energy Group had made a proposal to buy a 19.4-per-cent share of SRG's Lola graphite project in West Africa. Late last year, the company announced it was planning on redomiciling in the United Arab Emirates to negate the requirement for a national-security review. Speaking at the Prospectors and Developers Association of Canada mining conference in Toronto on Monday, Mr. Champagne signalled that SRG has erred in its interpretation of the rules. "I would say to anyone watching or reading that it's never smart to try to circumvent the rules," he said. The Canadian government will "use every tool at our disposal to make sure that Canadian law is respected, and that Canadian regulation is adhered to." China produces 65 per cent of the world's graphite. There is almost no publicly available information about Carbon One.

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