Juniors consider legal options after Chinese divestment order – by Nelson Bennett (Business In Vancouver – November 7, 2022)


Lithium exploration companies react to Canada ordering Chinese investors out

A junior exploration company in the critical minerals space says it is considering its legal options in response to the Canadian government ordering one of its investors to divest from the company.

Ultra Lithium Inc. (TSX-V: ULT) is one of two B.C.-headquartered companies that has Chinese investors ordered to divest their equity positions in the Canadian companies, based on national security concerns over control over critical minerals.

The other is Power Metals (TSX-V:PWM, OTCQB:PWRMF), which has lithium claims in Northeastern Ontario, and which the company says also contains cesium and tantalum, which are rare earth metals.

Last week, François-Philippe Champagne, minister of Innovation, Science and Industry, announced the Canadian government is ordering three Chinese companies to divest from Canadian companies involved in critical minerals exploration and development: Sinomine Rare Metals Co. Ltd., Zangge Mining Investment Co. Ltd., and Chengze Lithium International Ltd.

For the rest of this article: https://biv.com/article/2022/11/juniors-consider-legal-options-after-chinese-divestment-order