Ottawa restricting foreign state-owned investments in critical minerals

Innovation, Science and Industry Minister Francois-Philippe Champagne rises during Question Period, Friday, October 28, 2022 in Ottawa. The federal government is restricting the involvement of state-owned companies in Canada's critical minerals sector.THE CANADIAN PRESS/Adrian Wyld

OTTAWA - The federal government is restricting the involvement of foreign state-owned companies in Canada's critical minerals sector amid a global rush for the resources and growing tensions with China.

Industry Minister Francois-Philippe Champagne and Natural Resources Minister Jonathan Wilkinson announced the new approach in a statement Friday, saying critical minerals are key to Canada鈥檚 prosperity and security.

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