The Globe and Mail reports in its Monday edition that a subsidiary of a Chinese state-owned mining company says Canada is wrongly considering a national security review in its agreement to purchase a gold and copper mine in Peru. A Canadian Press dispatch to The Globe says that in May, Vancouver-based Pan American Silver announced an agreement worth almost $300-million (U.S.) to sell its stake in Peru's La Arena gold mine to Jinteng (Singapore) Mining, a subsidiary of China's Zijin Mining Group. Since then, however, Canada's Industry Minister François-Philippe Champagne has found the agreement "could be injurious to national security" and told the company in late June that he "may" order a formal review under the act. Certain types of foreign investments involving Canadian companies are reviewed on national security grounds, and Jinteng voluntarily notified the Director of Investments at Innovation, Science and Economic Development Canada shortly after the agreement was announced. The federal government maintains a list of nearly three dozen critical minerals "essential to Canada's economic or national security." Zijin is partially owned by the Chinese government and overseen by members of the Chinese Communist Party.
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