this post was submitted on 22 Feb 2025
23 points (100.0% liked)

Canada

8019 readers
321 users here now

What's going on Canada?



Related Communities


🍁 Meta


πŸ—ΊοΈ Provinces / Territories


πŸ™οΈ Cities / Local Communities

Sorted alphabetically by city name.


πŸ’ SportsHockey

Football (NFL): incomplete

Football (CFL): incomplete

Baseball

Basketball

Soccer


πŸ’» Schools / Universities

Sorted by province, then by total full-time enrolment.


πŸ’΅ Finance, Shopping, Sales


πŸ—£οΈ Politics


🍁 Social / Culture


Rules

  1. Keep the original title when submitting an article. You can put your own commentary in the body of the post or in the comment section.

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca


founded 4 years ago
MODERATORS
 

The federal government is going to court to force a Toronto company to sell a $34-million stake in a Calgary-based lithium firm that it bought off a Chinese company.

The government had already deemed the previous Chinese owner's investment in Lithium Chile Inc. to be harmful to national security, and it says in a Federal Court application that the new buyer has failed to co-operate with efforts to prove it isn't owned or influenced by China's government either.

Lithium is a critical mineral used in batteries and clean power. The application says it is at the heart of Canada's "energy security in the transition to a low-carbon economy."

The Attorney General of Canada filed the application in Federal Court this month for an order directing Gator Capital Ltd. to dispose of its shares in Lithium Chile, headquartered in Calgary with mining properties in Argentina and Chile.

The government claims that Gator's owner, Wing Hong Chan, has not replied to any demands for information after it paid $34 million for the 20 per cent stake in Lithium Chile.

"Gator has repeatedly and deliberately failed to provide information in response to multiple requests for information, three ministerial demands, and repeated attempts to obtain a response from Gator and/or Mr. Chan," the application says.

...

Under the Investment Canada Act, the minister can order foreign actors to divest from Canadian businesses if their investments are found to be potentially "injurious to national security"

Chengze Lithium was given 90 days to sell, and one condition of the divestment order was that it couldn't sell or assign them to a Chinese state-owned enterprise, or a company under the influence of the government of the People's Republic of China.

...

you are viewing a single comment's thread
view the rest of the comments
[–] Sturgist@lemmy.ca 2 points 9 hours ago

Cool, now break up Postmedia, force divestment of the traitors packing up all our Canadian mills and shipping them to the US, and start incentivising Canadian businesses to fill the holes that will be left by American companies who can't afford or refuse to trade with us when tariffs start.