China’s Move to Buy Arctic Gold Mine Draws Fire in Canada – by Vipal Monga (Wall Street Journal – July 26, 2020)

https://www.wsj.com/

TORONTO — The purchase of a gold mine in the Canadian Arctic by a state-run Chinese company is triggering alarms in Canada over China’s expanding presence in a region that is growing in strategic importance for its shipping lanes and resources.

Opposition parties and former government officials have called on Canadian Prime Minister Justin Trudeau’s government to block Shandong Gold Mining Co., one of China’s largest gold miners, from buying Toronto-based TMAC Resources Inc., whose operation is almost 120 miles north of the Arctic Circle.

Mr. Trudeau’s cabinet has final say over the deal, but members of the Liberal Party government have stayed silent about it while it remains under review.

Opponents say Canada should block the deal to slow China’s growing control over strategic minerals. They also want to stop China from buying more assets in the Arctic. U.S. military and foreign-policy officials have warned that China could assert itself in the sensitive region like it has in the South China Sea.

“This purchase should not go forward,” said Richard Fadden, who was national security adviser to both Mr. Trudeau and former Canadian Prime Minister Stephen Harper.

For the rest of this article: https://www.wsj.com/articles/chinas-move-to-buy-arctic-gold-mine-draws-fire-in-canada-11595764801

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