Canadian Government Blocks Chinese Takeover Of Arctic Gold Mine

Federal government cites national security in blocking China’s takeover of TMAC Resources.

In a rare but welcomed instance of sanity, the federal government has blocked China’s takeover of Canadian mining company TMAC Resources.

China’s Shandong Gold Mining had sought to acquire TMAC Resources, the owner of a large arctic gold mine.

Shandong is a state-run company, controlled by the Chinese Communist Party. Of course, even nominally ‘private’ companies in China must submit to the whims of the Communist Party at all times, so there is really no such thing as a company in China that is independent of the Communists.

China’s takeover bid for TMAC Resources had been under a national security investigation by Canadian authorities since October.

This is a great move, as it would have been a huge problem for China to takeover an arctic gold mine.

There must be further action, so that we aren’t constantly dealing with these one-off issues. Companies controlled by Communist China should face a blanket ban on taking over Canadian companies, and Huawei should be banned as well.

Notably, the Liberal government has ignored a deadline imposed by the House of Commons to stop China’s intimidation of Canadian Citizens and ban Huawei, showing that despite them getting the decision on the gold mine right, this government continues to be far too weak when it comes to China.

Spencer Fernando

Photo – YouTube

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Linda McAuley

Sorry but this is a pre election scam! If he wins a majority will just reverse it.

Roy

In regard to the purchase of the gold mine by China I find the following paragraph interesting: “While the spokesperson did not explicitly confirm or deny the government had quashed the sale, he did point out an oblique Twitter post made by Dan Vandal, Minister of Northern Affairs, stating, “our government recognizes the importance of the mining industry to the economic prosperity of the North. We will continue to build a prosperous future for Northerners through the ANPF [Arctic and Northern Policy Framework] where decisions are made by the North for the North.”   It would almost appear there is a… Read more »

Marian Joudoin

Still do not trust this one must be some other bigger action going to happen. It’s just how this corrupt PM works.

RDP

Do not be too quick to applaud.

Guy-Paul Roy

Unbelievable, The Turd in the Punch Bowl might just Float?? I must invest in UFO Systems.

NancyW

I agree with you Spencer. We must remove their companies from Canada and Canadians running Companies in China, should either come home or plan on staying there, in my opinion, to save and protect Canada. The CCP has become a cancer around the world, have never been our friends and the Chinese Canadians should feel protected here and at home in Canada, not fearing what the CCP will do to them or their families.

ralph linstead

China has ” overtaken ” Gold Mines in Africa , & other Countries with the use bribery to local officials , and armed combatants , they are NOT to be trusted

Arie Intveld

How can this be verified? For the past 5 years, every single word uttered by Trudeau’s government and its propaganda media army has been either a distraction, an evasion or outright falsehoods. I don’t expect anything overt and truthful from this government. Ever.

Bruno

Amen!
I still don’t beleive itLliberals have been dishonest with everything they told us.Why should we beleive them this time.