Canada is unlikely to object to US government investments in two Vancouver-based mining companies, Energy Minister Tim Hodgson said, describing the deals as “capitalism in action.”
The Trump administration announced last week that it would take a 10% stake in Trilogy Metals as part of a $35.6 million investment to boost critical minerals projects in Alaska. The US also recently agreed to acquire an interest in Lithium Americas Corp., which is developing the Thacker Pass lithium project in Nevada.
The federal government has rules under the Investment Canada Act for acquisitions by state-owned entities, and Canada’s industry minister has said the government will evaluate deals on a “case-by-case” basis.
But Hodgson said Thursday the US stakes are “small minority investments” in firms with US projects.
“The fact that an ally of ours chooses to make an equity investment into a…
