Canada rejects Shandong Gold's bid to buy Arctic gold mine

Section:

By Tom Daly and Jeff Lewis
Reuters
Tuesday, December 22, 2020

The Canadian government has rejected Shandong Gold Mining's bid to acquire Canada’s debt-saddled TMAC Resources, the companies said, with the Chinese miner adding that the sale was blocked on national security grounds.

As the COVID-19 pandemic caused economic dislocation, countries from Australia to Canada have increased scrutiny on deals by state-run Chinese miners this year.

... Dispatch continues below ...



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In a filing to the Shanghai Stock Exchange today, Shandong Gold, one of China's biggest gold miners, said it had received notice of a decision made by Canadian authorities on Dec. 18 that it should not proceed with the deal. ...

... For the remainder of the report:

https://www.reuters.com/article/us-tmac-resources-shandong-gold/canada-r...

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