Canada will not force Chinese state-investors in three of its large mining companies to divest stakes, as such a move would create policy uncertainty, the natural resources minister told Reuters.
This is the first time Canadian government officials have clarified what the future holds for other Chinese investments in the three Canadian mining companies.
Shares in First Quantum were up 3.6% on Wednesday, also helped by news that Panama's government and the miner had agreed on the final text for a contract to operate a key copper mine. Ivanhoe gained 2%, while Teck climbed 1.3%.in the country who are looking to raise funds for exploration of critical metals.
Canada and its allies are looking to decouple from China in an attempt to diversify their supply chain in battery metals. But Wilkinson clarified that Canada will continue to trade with China. "Of course Canada will continue to have trade with China, some of that may involve trade in critical minerals."
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