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Chinese money ‘willing to ride it out’ in pursuit of Canadian critical mining deals, despite Ottawa’s scrutiny
- Canada tightened foreign investment rules for the critical minerals sector, and forced 3 Chinese investors to sell their stakes in Canadian companies in 2022
- Chinese investors have been among the most active in Canada’s mining industry, ploughing about US$15 billion between 1993 and 2023
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Why you can trust SCMP
A year after Canada tightened foreign investment rules for the critical minerals sector, Chinese money has continued to pour into Toronto-listed miners, according to proprietary research conducted by the University of Alberta.
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The inbound flow is raising hopes among some junior miners that it will be easier to find Chinese funding.
Canada had forced three Chinese investors to sell their stakes in Canadian critical mineral companies in 2022. Some of these companies did not have their mines in Canada.
In October 2022, the government added an extra layer of scrutiny for inbound deals in critical minerals.
What you are seeing is the reality, that there is no blockade of Chinese investments in Canada … it is a perception issue
The changes did not specify which country’s investments would be scrutinised, but the government says it wants to secure the critical minerals sector, which is strategic to Canada’s national security.
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