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By Shane Lasley
Mining News 

Ottawa reviews TMAC sale to China miner

Sale of Arctic gold mine to Shandong raise security concerns North of 60 Mining News – October 16, 2020

 

Last updated 10/15/2020 at 1:32pm

Canada National security review of Shandong Gold Mining TMAC

TMAC Resources Inc.

TMAC Resources owns the Hope Bay gold mine along Canada's Arctic coast in the Kitikmeot region of northwestern Nunavut.

TMAC Resources Inc. Oct. 15 announced that Ottawa has ordered a national security review of Shandong Gold Mining Co. Ltd.'s acquisition of TMAC and its Hope Bay gold mine in the Kitikmeot region of northwestern Nunavut.

Under a definitive agreement announced in May, Shandong Gold Mining (HongKong) Co., an overseas subsidiary of the state-owned Chinese gold mining company, would pay roughly US$1...



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