Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Araghchi to Grossi: These parties will bear responsibility for the consequences of their actions
Araghchi to Grossi: Iran will respond to any unlawful action by European countries or parties attempting to turn the Agency into a tool for achieving their objectives
Araghchi to Grossi: We urge the Agency to warn against the consequences of any political move against Iran
Araghchi to Grossi: We call on the Agency to highlight Iran’s full cooperation during the upcoming Board of Governors meeting next week
Araghchi to Grossi: We demand that the Agency reflect the facts in a manner that prevents certain parties from exploiting it to advance their political agendas
Iranian Foreign Minister Abbas Araghchi holds a phone call with IAEA Director General Rafael Grossi
Trump envoy Witkoff has sent 'detailed and acceptable proposal' to Iran for nuclear deal; it's in their best interest to accept it: White House Press Secretary Leavitt
Hamas official says Witkoff's position toward group was 'unfair' and shows 'complete bias' to 'Israel'
Hamas official says it has considered Witkoff's proposal acceptable for negotiations, says 'Israel's' response was incompatible with what the group agreed on
Hamas official says group has not rejected Wikoff's proposal for Gaza ceasefire

Canada blocks rare earth elements sale to China

  • By Al Mayadeen English
  • Source: Agencies
  • 18 Jun 2024 22:04
3 Min Read

Canada claims the minerals are a national security issue critical to its economic decarbonization agenda.

Listen
  • x
  • Canada blocks rare earths sale to China
    Prime Minister Justin Trudeau, right, speaks with Vincent Laniece, with Vital Metals, during a tour of the Vital Metals rare earth element processing plant in Saskatoon, in January of 2023. (The Canadian Press)

In a first, Canada has blocked the sale of stockpiled rare earth elements mined in the far north to a Chinese corporation that dominates the field, a senior government official divulged Tuesday.

However, more similar interventions may follow as Ottawa "cracks down on Chinese investment in Canada's mining sector," according to an official who spoke to AFP on condition of anonymity, because they were not authorized to talk publicly about the topic.

Australia's Vital Metals had planned to sell the minerals to China's Shenghe Resources, but Resources Minister Jonathan Wilkinson "stepped in to facilitate a deal so that the materials could stay in Canada," according to the source.

The stockpile was instead sold for Can$3 million (US$2.2 million) to the Saskatchewan Research Council, which is building processing facilities.

Canada claims the minerals are a national security issue critical to its economic decarbonization agenda.

Rare earth elements and other key minerals, such as lithium, cadmium, nickel, and cobalt, are critical components in electric car batteries, wind turbines, and other applications.

Related News

Trump proposes Canada become 51st State for free Golden Dome

King Charles to open Canadian parliament amid US tensions

Investment and export limitations were put mostly on China, which controls the crucial minerals sector, while billions of dollars in government incentives have been provided to accelerate local mining and the development of new battery factories, for example.

Wilkinson's office stated that Canada is "taking steps to develop secure domestic critical minerals value chains to reduce foreign reliance."

"When it comes to financing questions from mining companies operating in Canada, the answer cannot simply be investment from Chinese state-owned industries," it stated.

Following the tightening of investment regulations in 2022, Industry Minister François-Philippe Champagne ordered three Chinese resource corporations to surrender their shares in Canadian key mineral enterprises.

Earlier this year, Montreal-based SRG Mining announced plans to relocate to the United Arab Emirates to evade a Canadian investigation of a proposal to sell a roughly 20% share in the company to a Chinese entity.

However, it pulled out of the arrangement with Carbon One New Energy Group in March after Champagne warned against attempting to dodge Canadian regulations.

Vital Metals' stockpile from its Nechalacho mine in the Northwest Territories was to be processed in its facility in Saskatchewan, but work was suspended after the company's Canadian unit declared bankruptcy.

Read more: Rare earth elements and their applications; why the global competition

  • Canada
  • China
  • Rare Earth Elements
  • ottawa
  • Beijing

Most Read

President Donald Trump and Israeli Prime Minister Benjamin Netanyahu arrive to a news conference in the East Room of the White House, Tuesday, Feb. 4, 2025, in Washington (AP)

Rift widens: Trump, Netanyahu clash in heated phone call over Iran

  • Politics
  • 26 May 2025
US judges quietly consider private security amid Trump tensions

US judges quietly consider private security amid Trump pressures

  • US & Canada
  • 25 May 2025
An Israeli army vehicle moves in the Gaza Strip as seen from southern occupied Palestine, Thursday, May 29, 2025 (AP)

Hamas rejects Witkoff ceasefire plan, says alters terms

  • Politics
  • 29 May 2025
Spokesperson for the Yemeni Armed Forces, Brigadier General Yahya Saree, announces a new operation against Ben Gurion Airport on May 29, 2025 (Yemeni Military Media)

Yemen announces successful hypersonic missile strike on Ben Gurion

  • Politics
  • 30 May 2025

Coverage

All
War on Gaza

Read Next

All
MIT bans class president who gave pro-Palestine speech
US & Canada

MIT bans class president over pro-Palestine speech

Arab ministers condemn Israel 'ban' on planned West Bank visit
Politics

Arab ministers condemn Israeli ban on planned West Bank visit

Major General Hu Gangfeng, Vice President, National Defense University, People's Liberation Army, China, leaves after a panel discussion during the 22nd Shangri-La Dialogue summit in Singapore, Saturday, May 31, 2025. (AP Photo/Anupam Nath)
Politics

China blasts Hegseth, calls US top 'troublemaker' in Asia-Pacific

US activists demand shutdown of Musk's 'dirty' supercomputer: Reports
Technology

US activists demand shutdown of Musk's 'dirty' supercomputer: NBC News

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS