After more than a decade of aggressive efforts and development, China now stands tall as the largest mining producer and financier in the world, by some margin. It is the leading miner of 29 commodities including aluminum, coal, gold, magnesium, tin, phosphate, nitrogen, zinc, graphite, tungsten, rare earths, and other critical minerals.
Canada, which used to be a leading force despite its small demographic size and investment pool, is now at the bottom end of the global top 10 mineral producers. Still, China is looking to capitalize on the extent of Canada’s mining network nationally and around the world to advance its interests.
With Canadian mining companies desperate for cash and the Canadian government showing little interest in financing a mining boost (especially in comparison to China), the People’s Republic is taking advantage of its leadership position to push it even further. Even with the recent Investment Canada Act (ICA) and the Canadian Critical Minerals Strategy, China has made Canada’s efforts look small by comparison.
As part of Canadian government’s aim to reduce Chinese economic influence in Canada, it made statements relating to the ICA’s application to this context in late 2023. The act gives the government the ability to review and reject foreign investments to ensure that they are beneficial to the Canadian economy and society, while promoting “positive foreign investment.” The national security component of the ICA could be used to reject Chinese mining investment in Canada.
For the rest of this article: https://macdonaldlaurier.ca/situation-critical-joseph-bouchard-for-inside-policy/