Canada tells Chinese firms to divest
The Canadian government has ordered Chinese investors to divest their stakes in three lithium developers. Shares of Power Metals (TSXV:PWM), Ultra Lithium (TSXV:ULT) and Lithium Chile (TSXV:LITH) all took a tumble on the news. The government chose to target all three juniors even though only PWM and ULT actually have projects in Canada. The move is not a major surprise, given the fact that Western powers are becoming increasingly concerned about Chinese dominance in the industry. But what is a surprise is that no action has been taken against Lithium Americas (TSX:LAC) in which Ganfeng Lithium (HKG:1772) has a 20%...