Innovation, Science and Industry Minister Francois-Philippe Champagne rises during Question Period, Friday, October 28, 2022 in Ottawa. The federal government is restricting the involvement of state-owned companies in Canada's critical minerals sector.THE CANADIAN PRESS/Adrian Wyld

Ottawa restricting foreign state-owned investments in critical minerals

The federal government is restricting the involvement of foreign state-owned companies in Canada’s critical minerals sector.

Industry Minister Francois-Philippe Champagne and Natural Resources Minister Jonathan Wilkinson say critical minerals are key to the country’s prosperity and security.

They say that is why Ottawa is rolling out new rules that will make it more difficult for companies owned or operated by foreign governments to buy or invest in the industry.

The new rules come amid a global rush to secure critical minerals, many of which are vital for electronics such as semiconductors, batteries and electric vehicle motors.

The rules also coincide with growing tensions with China, which has purchased or invested in Canadian mines and other natural resources.

The federal government is developing what it calls a critical minerals strategy, which will seek to position the country as a leader in supplying the resources to industries and countries around the world.

Be Among The First To Know

Sign up for a free account today, and receive top headlines in your inbox Monday to Saturday.

Sign Up with google Sign Up with facebook

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Reset your password

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

A link has been emailed to you - check your inbox.



Don't have an account? Click here to sign up
Pop-up banner image