Conservatives call for national security review for takeover of Canadian lithium company

Conservatives call for national security review for takeover of Canadian lithium company

January 13, 2022
FOR IMMEDIATE RELEASE

Ottawa, ON – The Hon. Michelle Rempel Garner, Conservative Shadow Minister for Natural Resources and Energy, and the Hon. Ed Fast, Conservative Shadow Minister for Innovation, Science and Industry, issued the following statement calling on the Trudeau Liberals to conduct a national security review following the announced takeover of Canadian lithium mining company Neo Lithium:

“Once again, the Trudeau government has failed to take Canada’s national security seriously. 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 a large impact on Canada’s auto manufacturing sector and the Canadian economy as a whole. It's imperative that Canada take the issue of critical minerals and the domestic supply chain of these minerals seriously. 

“It’s concerning that the foreign takeover of Canadian lithium mining company Neo Lithium was not immediately subject to a national security review by the Liberal government. Canada is falling behind in developing its critical mineral industries, 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 lithium and other critical minerals. 

“That’s why Canada’s Conservatives are calling on the Liberals to immediately conduct a national security review of the takeover under the Investment Canada Act and to explain why a national security review was not completed in the first place. 

“Conservatives will continue to be a voice for those who are concerned about the impacts that critical mineral supply chains will have on the Canadian economy. Canada can be a leader in the ethical and environmental mining of critical minerals, but only if we take this issue seriously and protect North American supply chains. It’s time for the Liberals to turn their talk on critical minerals into action.”

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