News

January 18, 2022
FOR IMMEDIATE RELEASE

Ottawa, ON – Conservative Members of the Standing Committee on Industry and Technology have called for an emergency meeting to discuss the sale of the announced takeover of Canadian lithium mining company, Neo-Lithium.

Today, MPs Ed Fast, Michael Kram, Tracy Gray, Bernard Généreux, and Brian Masse sent the letter below to the Chair of the Industry Committee requesting an emergency meeting to discuss the fact that Canadian lithium mining company, Neo-Lithium, was sold to a Chinese state-owned company without a national security review.

Dear Chair,

As you may know, the Liberal government chose not to conduct a national security review following the announced takeover of Canadian lithium mining company, Neo-Lithium, under the provisions of the Investment Canada Act. It concerns us that the foreign takeover was not immediately subject to a review and proper due diligence.

Critical minerals such as lithium are essential to the future prosperity of Canada’s economy and our strategic interest. These minerals are used in the production of products such as electric vehicles, and could play a key role in meeting our climate targets. Recently, we have seen what shortages of these minerals can do to global supply chains. Shortages of semiconductors have had an adverse impact on Canada’s auto manufacturing sector and on the Canadian economy as a whole. It is imperative that Canada take seriously the issue of critical minerals and the domestic supply chain of these minerals.

Canada is falling behind in developing its critical mineral resources, and allowing the foreign takeover of companies like Neo-Lithium without due diligence could further weaken our strategic interest in developing a domestic supply of these critical minerals. That’s why we, the undersigned members of the Standing Committee on Science, Innovation and Industry, request that, pursuant to Standing Order 106(4), you convene an emergency meeting of the Committee.