Upon the Canadian government's recently announced order on critical mineral investment divestiture targeting foreign enterprises, three leading listed Chinese lithium-focused mining companies - Chengxin Lithium Group, Sinomine Resource Group, and Zangge Mining - immediately responded publicly, Kallanish learns. 

On 2 November, the Canadian Department of Innovation, Science and Economic Development released "statements regarding the government's decision on recent investments in Canadian critical minerals companies and regarding modernisation efforts under the Investment Canada Act." It urges the three companies to divest their investments in Canadian critical minerals companies.

Francois-Philippe Champagne, the department's minister, says: "While Canada continues to welcome foreign direct investment, we will act decisively when investments threaten our national security and our critical minerals supply chains, both at home and abroad."

Chengxin Lithium says: "Our investment in Lithium Chile (Canada-headquartered) is about CNY 100 million ($13.66m). It is more like an investment in the industrial chain. So far it is still in exploration and the official production hasn't started. So far, there is no huge impact."

Sinomine says: "We have received the notification on the investigation results on Sinomine (Hong Kong) Rare Metals Resources' investment in the Canadian company Power Metals. Sinomine (HK) is asked to sell it shares in Power Metals, terminate the underwriting agreement with Power Metals, and have the board director it nominated to resign within 90 days."

Sinomine also claims there will be no impact on its Tanco project. 

Zangge Mining says: "We have received the notification. We are asked to give up related investments, including all related rights and business activities, within 90 days. A written extension request is allowed if we confirm the exit. So far, our collaboration with Ultra Lithium is still in early due diligence and exploration stage. If we later sell all shares of Ultra Lithium, there won't be a huge impact on our performance."