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