No national security issue in Chinese takeover of Canadian lithium company: Liberals

The federal Liberals say the pending takeover of a Canadian lithium mining corporate through a Chinese Language state-owned corporate raises no national security concerns.

The argument used to be made Thursday at an emergency assembly of the home of Commons business committee, brought on through the Conservatives, who want to understand why no formal nationwide safety review was carried out remaining fall although Canada has deemed lithium to be a vital mineral essential to this country’s financial system.

Liberal MP Andy Fillmore, parliamentary secretary to Industry Minister Fran├žois-Philippe Champagne, says Neo Lithium Corp. is not in reality a Canadian corporate.

He says it only registered right here to get on the Toronto Stock Alternate in a bid to lift money for what he called a “dubious” mine construction mission in Argentina.

Vancouver lithium miner centered in $400M takeover struggle with Chinese firm

Analysis

Canada, a vital-minerals superpower? Let’s pause for a truth check

Additionally, Fillmore says that mine involves lithium carbonate, no longer the lithium hydroxide used to manufacture batteries that are critical for electric vehicles.

Consequently, he says the company’s takeover via China’s Zijin Mining Crew Ltd. is “beside the point” to Canada’s national safety.

Neo Lithium Corp. itself describes the mine as “the pre-eminent lithium brine asset in the international” to fulfill world demand for electric vehicle batteries.

Leave a comment