Local MP stands up for foreign takeover of mining company
Tracy Gray has joined her Conservative colleagues on the House of Commons Standing Committee on Industry and Technology in requesting an emergency meeting to discuss the proposed takeover of Canadian mining company, Neo-Lithium, by a Chinese state-owned company without a national security review.
“Critical minerals such as lithium are essential to the future of Canada’s economy, especially as the auto industry continues to shift towards the domestic manufacturing of electric vehicles,” said Tracy Gray, Member of Parliament for Kelowna—Lake Country. “The foreign takeover of companies like Neo-Lithium without due diligence may further weaken our strategic interests in developing a domestic supply chain of these critical minerals.”
The Liberal government chose not to conduct a national security review following the announced takeover of Neo-Lithium, under the provisions of the Investment Canada Act.
“We must ensure that we have access to the natural resources, like lithium, that are required to be world leaders in developing and manufacturing green technologies,” said Gray. “Canadians have seen how supply chain challenges can wreak havoc on our daily lives, which is why it is essential that our federal government ensures that foreign takeovers of Canadian companies do not jeopardize our supply chains, national security, and economic prosperity.”