Indo-Pacific Strategy to (now) come early December The article continues that “In 2020, Canada imported more than $5 billion in products from Taiwan, and exported around $1.7 billion to Taiwan, which includes agricultural products, raw materials and cars from Canada, according to the Taipei Economic and Cultural Office.” There are concerns that Canada’s dependence on Taiwan’s semiconductor supply chains is risky as Chinese threats to close in on Taiwan continue. Taiwan’s representative in Canada is pushing to strengthen the bilateral trade relationship as supply chains are under pressure and geopolitical threats increase, a Toronto Star article notes. Taiwan pushes for stronger ties with Canada The Toronto Star also covered whether or not this divestment order is actually in the best interest of Canada, read that here. In a previous brief, we covered the implications of China pulling out of the Canadian critical minerals game, and what the industry and investors could be left with. The Niobec mine is one of the only sources of niobium, a longstanding top strategic mineral for the U.S. new US defence Production Act funds) as American mining projects.”Īlso of interest in the mining divesture announcement was the absence of mention of Chinese ownership stake in the Niobec mine in Saguenay, Quebec. military-industrial base and is every bit as entitled to the cash (sic. A possible alternative has been reported by CBC, writing that “The United States military has been quietly soliciting applications for Canadian mining projects that want American public funding through a major national security initiative.” The article notes that this is because “Canada has, for decades, belonged to the U.S. The divestment order did not come with a plan to replace Chinese investment, assuming that there are other sources. The divestment order has been met with firm opposition from China in a statement last week that states “China will take necessary measures to safeguard the legitimate rights and interest of Chinese companies,” a China-based news source reports. If the federal government pushes for additional divestment, some companies could be “in a bind in terms of finding alternate sources of financing” as foreign investment law specialist Subrata Bhattacharjee told Bloomberg. Bloomberg estimates at “least 27 public companies” have connections with “89 announced acquisitions and investments in Canadian metals and mining companies in the past decade” valued at $14 billion. The target companies on Ottawa’s list are small compared to the mega-Canadian critical mineral companies that have deeper ties with China. and Ultra Lithium, have been ordered by the federal government to divest their holdings in Canada, the Globe and Mail reports. Multiple Chinese companies with ownership stakes in Canadian critical mineral mines, including Vancouver-based Power Metals Corp. An otherwise routine property transaction – originally reported by The Australian newspaper in an unsourced article and independently confirmed by Breakingviews – may be trickier in the current climate.In this issue: Feds order Chinese divestment in Canada’s critical minerals, Taiwan pushes for stronger ties with Canada, Indo-Pacific Strategy (now) to come early December and more.įeds order Chinese divestment in Canada’s critical minerals It already owns a 25% stake and has struck a provisional deal to buy another 50% from real estate investment trust Dexus and its Canadian pension fund partner at a roughly $1.4 billion valuation. The office tower could soon provide a snapshot of the modern state of Australia’s fracturing relationship with China.īeijing-based sovereign wealth fund China Investment Corp is keen to take control of the building located in the city’s Rocks neighbourhood. MELBOURNE (Reuters Breakingviews) - With a sweeping overlook of Sydney’s Harbour Bridge and Opera House, Grosvenor Place was designed, according to its architect Harry Seidler, as a “camera on the view”. A runner exercises along the waterfront near the city centre as the state of New South Wales continues to report relatively low numbers for new daily cases of the coronavirus disease (COVID-19), in Sydney, Australia, September 7, 2020.
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