The other is Power Metals (TSX-V:PWM, OTCQB:PWRMF), which has lithium claims in Northeastern Ontario, and which the company says also contains cesium and tantalum, which are rare earth metals.
Last week, François-Philippe Champagne, minister of Innovation, Science and Industry, announced the Canadian government is ordering three Chinese companies to divest from Canadian companies involved in critical minerals exploration and development: Sinomine Rare Metals Co. Ltd., Zangge Mining Investment Co. Ltd., and Chengze Lithium International Ltd.
Earlier this year, Ultra Lithium announced Zangge Mining would invest in Ultra Lithium’s Laguna Verde Brine lithium project in Argentina. Under the agreement, Zangge would pay Ultra Lithium $10 million, and invest $40 million in the Laguna Verde project, which would give Zangge a 65% stake in the project.
In January, the Canadian government approved the sale of Canada’s Neo Lithium…
