“If you start looking backwards at investments, it will create all kinds of uncertainty about whether an investment is ever really an investment,” Natural Resources Minister Jonathan Wilkinson said in an interview late on Tuesday on the sidelines of Prospectors and Developers Association of Canada (PDAC) conference in Toronto.
Three of Canada’s largest mining companies – Teck Resources, Ivanhoe Mines Limited and First Quantum Minerals Limited, – count Chinese state-owned enterprises as their biggest single shareholder.
This is the first time Canadian government officials have clarified what the future holds for other Chinese investments in the three Canadian mining companies.
According to Refinitiv data, the sovereign wealth fund China Investment Corp owns a 10.3% stake in Teck, China’s state-owned CITIC Metal Group owns 26% in Ivanhoe Mines while China’s largest copper producer Jiangxi Copper Corp Ltd owns 18.3% in…
