Experts warn about potential risks of foreign investment in Arctic mining – by Natalie Pressman (CBC News North – April 26, 2024)

With minimal Canadian investment, mining companies have few options

Some representatives of the federal government and northern mining experts are issuing a warning about the risk of foreign investment in Arctic mining.

During a panel at the Nunavut Mining Symposium Thursday, representatives from the Canadian Security and Intelligence Service (CSIS), the RCMP and the Canadian Northern Economic Development Agency (CanNor) discussed foreign companies’ interest in Canadian northern mining, and what that could mean for Arctic security.

“The North has so many resources, and these resources are of interest to the world,” said Jimi Onalik, president of CanNor. Panelists pointed to the Nechalacho rare earth project as an example of China’s interest in northern mining. The project was once recognized as a solution to Chinese dominance over the market, but in 2023 a Chinese company became a major investor.

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