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
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...