SRG Mining has announced that it was putting an end to a proposed acquisition of a 19.4-per-cent stake in a project by a Chinese company
Patrick Leblond is associate professor and holder of the CN-Paul M. Tellier Chair on Business and Public Policy in the graduate school of public and international affairs at the University of Ottawa. He is also a senior fellow with the Centre for International Governance Innovation.to Carbon One New Energy Group’s proposed $16.9-million investment in the Canadian miner.
This case raises a million-dollar question: Does the Chinese ownership of a fifth of a graphite mining operation in West Africa for the European battery market represent a threat to Canada’s national security? But is blocking a transaction like the one between SRG and C-One the best way to reduce critical mineral dependence on China? Will it ensure sending graphite to Europe or North America rather than China or China-controlled manufacturers?
Now that SRG has given up on C-One’s financial and technical support, it needs to find it somewhere else. Given China’s dominance of the critical mineral supply chains, Chinese firms tend to be the ones that have the relevant expertise.
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