Reuters exclusively reported that Canada will not force Chinese investors to sell their stakes in three of Canada’s biggest mining firms, Teck Resources, Ivanhoe Mines, and First Quantum Minerals. Canada’s Natural Resources Minister, Jonathan Wilkinson, told Reuters in an interview that any retrospective move will create policy uncertainty. In November, Canada forced three Chinese companies to sell their stakes in Canadian lithium explorers, which raised questions about the future of China’s remaining mining investments in Canadian companies. The news lifted shares in the three Canadian mining companies, with Teck rising 2.2%, Ivanhoe jumping 2.5%, and First Quantum gaining as much as 5.5%. The move in First Quantum shares was also supported by the agreement it reached with the Panama government.
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