This never should be allowed. The sale must be blocked.
Shandong Gold Mining Co. Ltd. is buying Canadian gold mining company TMAC Resources Inc. for $207.4 million.
The deal will give Shandong – a China-controlled company – control over gold mines on Canadian territory, in effect allowing a hostile foreign power to take control over a key source of wealth in Canada, rather than having it under the control of Canadian Citizens.
The company is controlled by the government of China (aka the Chinese Communist Party), with the government directly controlling 47% of the company, and another 10% being controlled by subsidiaries, combining into a majority stake.
The deal is still subject to review by the federal government, who have the power to block it.
And block it they must.
We cannot allow China to buy up our companies and take control of our resources.
Considering the fact that the federal government is spending hundreds of billions on the CCP Crisis, it would be far better for them to simply nationalize TMAC and keep it in Canadian hands. Far better for the company to be owned by the Canadian government than the Chinese Communist Party.
We must protect our Canadian companies.
Photo – YouTube