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Canada tightens controls on Foreign Investment in Mineral sector



The Canadian government is tightening regulations to restrict foreign state-owned enterprises from investing in Canada's key mineral sector.

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The Canadian government is tightening regulations to restrict foreign state-owned enterprises from investing in Canada's key mineral sector.

On October 28, the Canadian authorities issued a notice saying that all transactions related to this investment activity will only be approved on an exceptional basis and this regulation takes effect immediately.

Canada tightens controls on Foreign Investment in Mineral sector

The regulations will not only govern outright takeovers of Canadian companies, but will also apply to investments of any size across all aspects of the resource industry, from exploration and development to mining and refining.

In the past, the approval process was less rigorous, and the rules were mainly focused on outright business takeovers.  In March 2021, the Government of Canada said that foreign state-owned enterprises' acquisitions of Canadian companies would be subject to enhanced scrutiny and authorities would look into whether such transactions cause harm Canada's vital mineral supply.

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Canada is drawing a line between investments from foreign jurisdictions that Ottawa considers friendly to the national interest such as the US, Europe and Australia, and and other investments.

Canada tightens controls on Foreign Investment in Mineral sector

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