Critics urge government to block Russian investment in Canadian-owned lithium mine – by Anita Balakrishnan (Financial Post – March 12, 2022)

The federal government should block a Russian state-backed investment in a Canadian-owned lithium mine, critics say, as Ottawa looks for ways to punish Russia economically for its invasion of Ukraine.

At the end of November, Vancouver-based Alpha Lithium announced a deal to sell 15 per cent stake of its Tolillar Salar mine in Argentina to a subsidiary of Uranium One, which is part of a network of companies owned by ROSATOM, Russia’s State Atomic Energy Corporation.

Talking Point

Vancouver-based Alpha Lithium announced at the end of November that it would sell a stake in a mine to a subsidiary of Russia’s State Atomic Energy Corporation.

With companies pulling out of Russia and the government announcing more detailed security reviews of Russian deals, the transaction could be a test case as Canada faces pressure to secure its critical-mineral supply chain.

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