China Taking Over Canada's Lithium Mines; Conservatives Fight It
Kelowna-Lake Country MP Tracy Gray is asking why a Chinese company has been allowed to take over a Canadian mining company without proper security review.
Gray joined other members of the Conservative caucus in the House of Commons Standing Committee on Industry and Commerce by asking for an emergency meeting to discuss the potential takeover of Neo-Lithium by a Chinese state-run company.
“Critical minerals such as lithium are essential to the future of Canada’s economy, especially as the auto industry continues to shift towards the domestic manufacturing of electric vehicles,” said Gray.
“The foreign takeover of companies like Neo-Lithium without due diligence may further weaken our strategic interests in developing a domestic supply chain of these critical minerals."
“Canadians have seen how supply chain challenges can wreak havoc on our daily lives, which is why it is essential that our federal government ensures that foreign takeovers of Canadian companies do not jeopardize our supply chains, national security, and economic prosperity.”
She says the Liberal government decided against a national security review under provisions of the Investment Canada Act.