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ARTICLE · 29 DECEMBER 2020

Canada Blocks Chinese Acquisition Of Arctic Gold Mine

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The Canadian government recently blocked the proposed acquisition by Shandong Gold (Shandong) of Canadian gold-mining company TMAC Resources (TMAC) on national security grounds.

GlobalGovernment, Public Sector
Dany Assaf
Dany Assaf
Omar Wakil
Omar Wakil
Michael Amm
Michael Amm
Ian Li
Ian Li
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The Canadian government recently blocked the proposed acquisition by Shandong Gold (Shandong) of Canadian gold-mining company TMAC Resources (TMAC) on national security grounds.

What you need to know

  • This is the first time that a Chinese investment in Canada's mining sector has been formally blocked under the Investment Canada Act (ICA).
  • The decision is a reminder that national security reviews are fact- and context-specific. It also highlights the complex and evolving nature of the national security review regime and re-enforces the need for up-front and broad risk assessment early in the transaction planning process.

The details

The ICA national security review regime

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