The Canadian government ordered three Chinese companies to withdraw their investment in Canada's key mining companies, citing national security.

(Reuters file photo)

[Financial Channel/Comprehensive Report] The Canadian government ordered three Chinese companies to withdraw their investment in key Canadian mining companies on the grounds of national security.

According to Reuters, the three companies ordered to divest are China Mining (Hong Kong) Rare Metal Resources Co., Ltd., Shengze Lithium International Co., Ltd., and China Zangge Mining Company.

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Canadian Foreign Minister Francois-Philippe Champagne said in a statement that the government ordered the divestment of the companies following a severe scrutiny of foreign companies by Canada's national security and intelligence community.

China Mining was ordered to sell its mining stake in Power Metals Corp, Shengze Lithium was ordered to divest its investment in Lithium Chile Inc, and Zangge Mining was ordered to withdraw its investment in Ultra Lithium Inc.

"Although Canada has always welcomed foreign investment, if investment threatens our national security, that is, our critical mineral supply chain at home and abroad, we will take action in a timely manner," Shen said.

Canada is rich in nickel, carp, cobalt and magnesium key raw materials for electric vehicle batteries, which are essential for clean energy and other technologies, and demand for the mineral is expected to expand significantly in the coming decades.

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