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Canada rejects sale of Arctic mine to Chinese company Shandong Gold after security review


 
CALGARY
The CEO of TMAC Resources Inc. says there s a silver lining to news that Ottawa will not allow the sale of his mining company to China s Shandong Gold Mining Co. Ltd.
The company announced Tuesday it had been informed the $230-million sale of TMAC, whose main asset is a gold mining project at remote Hope Bay in Nunavut, would be blocked following a review under the Investment Canada Act.
The government not approving the transaction, to me, is also in a way saying that what we ve done at Hope Bay is important to Canada, said CEO Jason Neal in an interview. ....

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