Canada’s vetoing Arctic gold mine acquisition is ‘political inference’: FM

Source: Global Times Published: 2020/12/23 17:10:16

Zhao Lijian

Canada's unjustified veto of a Chinese company's commercial acquisition of a gold mine located within the Arctic Circle provoked a response from the Chinese Foreign Ministry, which criticized the Canadian government of politicizing regular business cooperation and engaging in political inference.

"China has always asked its companies to carry out investment and cooperation overseas based on international rules and local laws and regulations. It is wrong to politicize business cooperation and to engage in political interference on the grounds of national security," Chinese Foreign Ministry spokesperson Zhao Lijian said at a press briefing on Wednesday.

"The nature of China-Canada economic and trade cooperation is mutually beneficial," Zhao said, urging the Canadian side to provide a fair, open and non-discriminatory business environment for foreign companies, including those from China.

The remarks came as media reports saying that Canada rejected a bid by a Chinese company acquiring an Arctic gold mine on national security grounds.

Canada-based mining company TMAC Resources Inc said in a statement on Monday that the Canadian federal government has rejected the proposal to sell all TMAC Resources shares and its Hope Bay gold mining project to China's Shandong Gold Mining Co Ltd, CBC News reported on Tuesday.

Approved by 97 percent of TMAC shareholders in June, the $230-million deal "did not receive Canadian regulatory approval and will not proceed," according to TMAC president and CEO Jason Neal.

Global Times

Posted in: ECONOMY

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