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(Reuters) -Canada rejected Shandong Gold Mining’s bid for indebted TMAC Resources, the companies said, amid concerns about a Chinese state-owned entity operating in the country’s sensitive Arctic region.
FILE PHOTO: Gold nuggets are displayed at a booth of 18526 Yukon Inc at the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada March 1, 2020. REUTERS/Chris Helgren/File Photo
Canada and Australia have increased scrutiny on deals by state-run Chinese miners this year amid economic dislocation caused by the coronavirus pandemic.
Ottawa’s decision could further strain Canadian-Chinese relations, already damaged by Canada’s December 2018 arrest of Huawei Technologies Co Ltd Chief Financial Officer Meng Wanzhou at the request of the United States.
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