The Globe and Mail reports in its Thursday, Oct. 16, edition that President Donald Trump's intervention in the Canadian critical-minerals sector, including equity stakes in Lithium Americas and Trilogy Metals, may prompt Ottawa to take similar action. The Globe's Niall McGee writes that industry players, however, urge caution, as the U.S. secured favourable terms in these deals, including millions in warrants and a board seat at Trilogy.
The Trump administration has advocated for greater state ownership of private industry for projects deemed crucial to national security, recently taking equity stakes in chipmaker Intel and rare-earths company MP Materials. National chair of the Competition and Foreign Investment Review Group, Subrata Bhattacharjee, said: "We are in this new world of increased state intervention directly in companies, in markets, to protect strategic interests. It would not be surprising for the Canadian government to be looking at this stuff." Ottawa, in fact, has taken baby steps in equity deals in the critical-minerals sector in recent years through Canada Growth Fund Inc., a $15-billion public investment vehicle launched in 2023 that operates at arm's length from the government.
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