Paladin, which would have become the third-largest publicly traded uranium producer with the planned acquisition, said it was considering the notice sent by Canada’s minister of innovation, science and industry, François-Philippe Champagne.
Ottawa has turned particularly strict on Chinese investment in natural resources over the past four years, and while Paladin’s acquisition of Fission is a deal between Australian and Canadian companies, there are Chinese state-owned entities involved on both sides of the transaction.
CGN Mining Company, a subsidiary of China General Nuclear Power, owns a 11.26% stake in Fission. It formally opposed the deal in late September, but its efforts to block the deal were unsuccessful.
A second Chinese state-owned entity, China National Nuclear Corporation, holds a 25% interest in Paladin’s flagship Langer Heinrich mine in Namibia, and is one of the company’s major lenders.
Paladin said it is…
