Canada orders three foreign firms to divest investments in critical minerals

Canada's government ordered three foreign firms on Wednesday to divest their investments in Canadian critical minerals companies on grounds of national security.

The three foreign firms ordered to divest their investments are Sinomine (Hong Kong) Rare Metals Resources Co Ltd, Chengze Lithium International Ltd, and Zangge Mining Investment (Chengdu) Co Ltd.

"These companies were reviewed via the multi-step national security review process, which involves rigorous scrutiny by Canada's national security and intelligence community," Industry Minister Francois-Philippe Champagne and Natural Resources Minister Jonathan Wilkinson said in a joint statement.