READER COMMENT: Chinese investment in Canada

"Your item on Chinese investments in Canadian nickel resources caught my attention," wrote senor lead and zinc anal...

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"Your item on Chinese investments in Canadian nickel resources caught my attention," wrote senor lead and zinc analyst Doug Panagapko of NRCan's Minerals and Metals Sector in Ottawa. "The Chinese are also actively acquiring zinc and lead resources. Through the recent China Minmetals purchase of OZ Minerals, the Chinese company gains ownership of several undeveloped base metal projects in northern Canada, including the Izok Lake and High Lake VMS deposits. Last year, Yukon Zinc, owner of the Wolverine deposit in Yukon, was purchased by Jinduicheng Molybdenum Group Ltd. and Northwest Nonferrous International Investment Company Ltd. In January, Tongling Nonferrous Metals Group Holdings Co. Ltd. purchased a 13% equity interest in Canada Zinc Metals, owner of the Akie zinc project in British Columbia.

 

"I would expect that China will continue to look at mining assets in Canada and elsewhere as they seek to secure new offshore resources to supply their domestic industry and supplement their growth," he added.

 

Apology: Another reader took me to task for the stereotypical use of the word "chopsticks" in the same item. I sincerely apologize to anyone offended by the word. It was never my intention to belittle the Chinese and their culture.

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