Canada rejects bid by China s Shandong for Arctic gold mine on security grounds
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Canada rejects Shandong s bid to buy TMAC - The Northern Miner
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The Canadian government has rejected Shandong Gold Mining’s bid to acquire Canada’s debt-saddled TMAC Resources, the companies said, with the Chinese miner adding that the sale was blocked on national security grounds.
As the COVID-19 pandemic has caused economic dislocation, countries from Australia to Canada have increased scrutiny on deals by state-run Chinese miners this year.
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In a filing to the Shanghai Stock Exchange on Tuesday, Shandong Gold, one of China’s biggest gold miners, said it had received notice of a decision by Canadian authorities on Dec. 18 that it should not proceed with the deal.
Publishing date: Dec 22, 2020 • December 22, 2020 • 2 minute read •
Article content
The Canadian government has rejected Shandong Gold Mining’s bid to acquire Canada’s debt-saddled TMAC Resources, the companies said, with the Chinese miner adding that the sale was blocked on national security grounds.
As the COVID-19 pandemic has caused economic dislocation, countries from Australia to Canada have increased scrutiny on deals by state-run Chinese miners this year.
We apologize, but this video has failed to load.
Try refreshing your browser, or Canada rejects Shandong Gold s bid to buy Arctic gold mine Back to video
In a filing to the Shanghai Stock Exchange on Tuesday, Shandong Gold , one of China’s biggest gold miners, said it had received notice of a decision by Canadian authorities on Dec. 18 that it should not proceed with the deal.