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A wave of takeovers is poised to reshape the lithium mining industry, with global giant Rio Tinto Ltd. projected to become the dominant producer of an essential metal in a decarbonized economy.
With analysts predicting acquisitions are coming, how is the Canadian government that’s previously pledged to build a domestic critical mineral industry to going to react when foreign buyers begin circling a handful of domestic lithium producers? Based on deals done so far, Ottawa will sign off on any acquisition that doesn’t involve a China-based buyer.
Pure-play lithium producers have become takeover targets because short-term issues in the sector outweigh its long-term potential. Lithium stocks are in a prolonged slump, after the price of the metal tanked over the past year, in part because of slower-than-expected demand for electric vehicles and their lithium batteries.
For the rest of this column: https://www.theglobeandmail.com/business/commentary/article-what-will-ottawa-do-about-a-wave-of-deals-for-junior-lithium-miners/