Canada wants to reach deals with countries that are more 'dependable' trading partners than China for the supply and processing of the critical materials needed to power the energy transition, a Canadian minister said on Tuesday. 'Much of the critical mineral resources around the world is controlled by China ... We are in a geopolitical universe where China is a trading partner that is probably not as dependable as the countries with whom we share values,' Canada's Energy and Natural Resources Minister Jonathan Wilkinson said at a Canada-UK critical minerals investment forum in London.
LONDON - Canada wants to reach deals with countries that are more "dependable" trading partners than China for the supply and processing of the critical materials needed to power the energy transition, a Canadian minister said on Tuesday.
Canada in 2022 asked three Chinese companies to sell their stakes in Toronto-listed lithium explorers after a national security review, a move that raised questions about the future of other Chinese investments in the Canadian mining sector. In March, Wilkinson told Reuters that the Canadian government would not force Chinese state investors to divest their stakes in large mining companies, including Teck Resources, Ivanhoe Mines and First Quantum Minerals, to avoid policy uncertainty.
Canada, home to a large mining sector for minerals such as lithium, nickel and cobalt, wants to woo companies involved in all levels of the EV supply chain through a multi-billion-dollar green technology effort.
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