Canada\u0027s Power Metals Corp. inked an agreement to sell its Chinese\u002Downed shares to Australia\u0027s Winsome Resources Ltd. Read more.
Vancouver-based Power Metals Corp. last week inked an agreement to sell its Chinese-owned shares to Australia’s Winsome Resources Ltd., which said it will acquire Sinomine Rare Metals Resources Co.’s stake in Power Metals for $2 million.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
In late October, the federal government said that any attempt by a state-owned enterprise to purchase assets in the sector couldthat determines whether deals could be “injurious to national security,” requiring lengthy review. Lithium Chile Inc. and Ultra Lithium Inc. haven’t yet revealed their next steps following the federal order. The companies didn’t immediately respond to requests for comment on how they planned to separate themselves from their Chinese shareholders.
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