(Bloomberg) — Chinese investment can’t be the solution for cash-strapped Canadian miners seeking financial backing, according to Canada’s natural resources minister.
“We need to be working to solve access to capital issues, but the answer cannot be investment from Chinese state-owned industries,” Natural Resources Minister Jonathan Wilkinson said Tuesday in an interview.
Chinese firms have been pursuing investments in Canadian junior mining companies in recent months, suggesting that tougher federal government rules imposed in 2022 haven’t dissuaded China from delving deeper into the country’s mining sector. Canada and its allies have been discouraging efforts by China to deepen ties in domestic critical minerals companies to counter the Asian nation’s industry dominance.
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