Ottawa restricting foreign state-owned investments in critical minerals

OTTAWA — The federal government is restricting the involvement of foreign state-owned companies in Canada’s critical minerals sector.

Industry Minister Francois-Philippe Champagne and Natural Resources Minister Jonathan Wilkinson say critical minerals are key to the country’s prosperity and security.  

They say that is why Ottawa is rolling out new rules that will make it more difficult for companies owned or operated by foreign governments to buy or invest in the industry.

The new rules come amid a global rush to secure critical minerals, many of which are vital for electronics such as semiconductors, batteries and electric vehicle motors.