Latest Developments after Canada Required Three Chinese Companies to Divest Their Lithium Ore Assets in Canada

Starting from November 2, 2022, the news that Canada required three Chinese companies to divest or withdraw their local lithium mine assets in Canada within 90 days has caused resonance in the industry.

Two out of the three firms have taken action so far. 

Sinomine Resource’s subsidiary sold 7.5 million ordinary shares, subscription warrants, as well as the rights and obligations under the Offtake Agreement that it held in PWM to Australian listed company Winsome as early as December 2, 2022. 

Another company Chengxin Lithium announced on the evening of February 17 that it had sold its lithium mine assets in Canada.

However, the third company Zangge Mining Investment (Chengdu) has taken no action.