Canada rejects Chinese bid for Arctic gold mine over national security concerns
Posted: Wednesday, December 23, 2020 10:20 The sale of a gold mine in Canada’s Arctic to a Chinese firm has been blocked by the federal government. The $230 million deal was to sell all TMAC Resources shares and its Hope Bay gold mining project to Shandong Gold Mining Co. Ltd. It has now been blocked after a lengthy national security review under the terms of the Investment Canada Act. Shandong is a Chinese state-owned company. A spokesperson for Innovation, Science and Economic Development Canada, the department which oversees investment, would not offer comment on the reasons for th...