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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":713,"relatedVideos":714},112472294411348,"babab27f-4410-474e-abaa-0897777fa7c6","Canada puts brakes on China’s $4 billion lithium acquisition spree","canada-puts-breaks-on-chinas-4-billion-lithium-acquisition-spree","article/canada-puts-breaks-on-chinas-4-billion-lithium-acquisition-spree",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":690,"featured":51,"reporter":691,"_editable":695,"component":696,"seo_title":543,"categories":697,"visibility":706,"author_company":49,"featured_image":707,"seo_description":690,"author_full_name":49,"author_job_title":49,"formattedDate":711,"formattedArticleDate":712},"154d88a9-590a-4fde-a63f-61c331811444","2022-11-04 00:00",[550,553,556],{"slug":551,"name":552},"canada","Canada",{"slug":554,"name":555},"china","China",{"slug":557,"name":558},"north-america","North America",[560],{"slug":561,"name":562,"content":563},"matthew-bird","Matthew Bird",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Senior Editor - Supply Chains & Data Visualisation",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":570,"content":571},"doc",[572,579,584,589,594,599,606,611,616,625,630,635,640,645,650,655,660,665,670,675,680,685],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"Canada’s decision to force three Chinese companies to divest from lithium companies could slow down China’s $4 billion of recent overseas investments in the sector, which has made Chinese companies the largest investors in the battery mineral globally.","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582],{"text":583,"type":578},"Canada said the decision came after a “multi-step national security review process” that involved “rigorous scrutiny” by its national security and intelligence community. It ordered China’s Sinomine to divest from Power Metals, Chengze Lithium from Lithium Chile, and Zangge Mining from Ultra Lithium, within 90 days.",{"type":573,"attrs":585,"content":586},{"textAlign":49},[587],{"text":588,"type":578},"The decision marks a significant change in policy by Canada towards Chinese investment and comes following the passing of the Inflation Reduction Act in the US this summer, which seeks to build a North American battery supply chain excluding Chinese companies.",{"type":573,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":578},"Ottawa, which is finalising a critical minerals strategy, said this month that transactions by state-owned companies in critical minerals could also be considered “injurious to Canada’s national security, regardless of the value of the transaction.”",{"type":573,"attrs":595,"content":596},{"textAlign":49},[597],{"text":598,"type":578},"“This would make Chinese investors more cautious in future overseas lithium investment but it won’t make them stop,” Albert Li, an analyst at Benchmark, said.",{"type":600,"attrs":601,"content":603},"heading",{"level":602,"textAlign":49},4,[604],{"text":605,"type":578},"China’s global lithium investment spree",{"type":573,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":578},"Chinese companies have invested over $4 billion in lithium projects outside of China since the beginning of 2021, according to Benchmark. Over the last five years, over $1 billion of lithium investments have been made in Canadian companies.",{"type":573,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":578},"Ottawa’s decision comes just nine months after Canada approved a deal by Chinese miner Zijin to acquire Canadian-listed lithium miner Neo Lithium, which has the 3Q lithium brine project in Argentina, for $737 million.",{"type":573,"attrs":617,"content":618},{"textAlign":49},[619],{"type":620,"attrs":621},"image",{"id":49,"alt":622,"src":623,"title":49,"source":49,"copyright":49,"meta_data":624},"","https://a.storyblok.com/f/287943243085208/fe2a893b4b/bm-chinese-biggest-acquisitions.png",{},{"type":600,"attrs":626,"content":627},{"level":602,"textAlign":49},[628],{"text":629,"type":578},"China’s Canadian shopping list",{"type":573,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":578},"That followed a number of earlier deals for Canadian companies. In 2018, Tibet Summit Resources acquired the Canadian-listed Lithium X project for $206 million. The following year Beijing-based Sinomine Resource Group also acquired the Tanco lithium mine in Manitoba. Tanco started shipping spodumene concentrate to China earlier this year.",{"type":573,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":578},"China’s Ganfeng Lithium is also the majority partner in the Cauchari-Olaroz lithium project in Argentina with Lithium Americas, which is listed in Canada. Ganfeng also owns 11% of the shares of Lithium Americas.",{"type":573,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":578},"Lithium Americas said this week it would split its North American and Argentinian assets into two separate companies. Lithium International will own its Argentine lithium assets, including its 44.8% interest in the Caucharí-Olaroz lithium brine project in Jujuy.",{"type":573,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":578},"It was unclear what would happen with Ganfeng’s shareholding in Lithium Americas.",{"type":573,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":578},"Canadian mining companies will now need alternative sources of capital for their projects.",{"type":573,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":578},"Ultra Lithium said it “encourages the federal government to actively follow through on its commitment to Canadian businesses to identify and find alternative sources of capital and to retain Canada’s status as a stable and top tier mining destination.”",{"type":600,"attrs":661,"content":662},{"level":602,"textAlign":49},[663],{"text":664,"type":578},"China reacts",{"type":573,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":578},"Canada’s action might see more Chinese investments directly into countries that don’t have free trade agreements with the US, such as Argentina and Africa, Li said.",{"type":573,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":578},"It will also push the Chinese government to support more domestic lithium resource development, including investment in salt lakes, lepidolite resources and recycling to ease the dependency on imports, he said. ",{"type":573,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":578},"Sinomine, Chengze Lithium and Zangge Mining had together invested around $82 million into the three Canadian lithium companies. They all said in statements the projects were in the exploration phase and the decision would not impact their business performance this year or in the future.",{"type":573,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":578},"“The Canadian side has overstretched the concept of national security and placed arbitrary curbs on normal trade and investment cooperation between China and Canadian companies,” China’s foreign ministry spokesman Zhao Lijian, said.",{"type":573,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":578},"In July Ultra Lithium and Zangge pledged to invest $290 million in the Laguna Verde brine lithium project in Argentina, following Zangge’s acquisition of a 65% stake in Ultra’s subsidiary a month earlier.","Canada’s decision to force three Chinese companies to divest from lithium companies could slow down China’s $4 billion of recent overseas investments in the sector, which has made Chinese companies the largest investors in the battery mineral globally. Canada said the decision came after a “multi-step national security review process” that involved “rigorous scrutiny” by […]",[692],{"slug":561,"name":562,"content":693},{"job_title":564,"image":694,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"154d88a9-590a-4fde-a63f-61c331811444\", \"id\": \"\"}-->","article",[698,701,704],{"slug":699,"name":700},"critical-minerals","Critical Minerals",{"slug":702,"name":703},"geopolitics","Geopolitics",{"slug":705,"name":8},"lithium","private",{"id":49,"alt":622,"name":622,"focus":622,"title":622,"source":622,"filename":708,"copyright":622,"fieldtype":709,"meta_data":710,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/383e648ada/bm-china-canada1.jpg","asset",{"alt":622,"title":622,"source":622,"copyright":622},"Nov 04, 2022","4th November 2022",[],[],1780500976404]