Canada Orders Three Chinese Firms to Divest From Country’s Lithium Miners
- Trio of miners caught up in Canada’s push to protect minerals
- China says Canada’s practice will hurt supply chain stability
An airplane flies past a Canadian flag on a navy ship in Toronto.
Photographer: Brent Lewin/Bloomberg
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The stocks of three junior lithium explorers tumbled after Canada’s government ordered their Chinese investors to divest under tougher foreign investment rules around the nation’s critical minerals sector.
Shares of Power Metals Corp. sunk as much as 21% on the TSX Venture Exchange in Toronto, its biggest intraday decline since April 2020. Ultra Lithium Inc. fell as much as 25%, while Lithium Chile Inc. slid as much as 10% before recovering.