Canada extends review of Chinese state firm’s gold mine bid amid rising tension

Cana has extended a national security review of  Chinese takeover of a Canian gold mining company operating in country’s strategic far rth worth USD 165 million. TMAC Resources said on Friday, vember 27 that a federal review of China's state-owned Shandong Gold Mining’s takeover bid for struggling miner h been extended for ar 45 days. TMAC Resources, which is currently trying to stay afloat, operates in Cana’s far rth Nunavut.

'Hope Bay gold project'

area's strategic value and untapped potential led members of Cana's opposition and government officials to push Prime Minister Justin Trudeau to block sale as per media reports. If approved agreement would give Chinese state-owned company control over TMAC's important asset 'Hope Bay gold project', which lies on rthwest Pass, a sea route linking Atlantic and Pacific oceans via Arctic,  according to South China Morning Post.

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This route however remains closed for most part of year and some scientists believe that climate change could open up route for long periods leing to opening of a shorter shipping path between Asia and Europe.

This extension of review by Cana comes amid growing tension with China following extrition case against Huawei Techlogies chief financial officer Meng Wanzhou. Lately, Cana's Communications Security Establishment (CSE) intelligence ncy report h cited China and rth Korea among several countries that pose greatest cybersecurity threat to Ottawa through ir state-sponsored programs.

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Canian Centre for Cyber Security (Cyber Centre) said in a report y have assessed that almost certainly state-sponsored programs of China, Iran, Russia and rth Korea pose greatest state-sponsored cyber threats to Canian individuals and organisations. However, many or states are rapidly developing ir own cyber programs, benefiting from various legal and illegal markets to purchase cyber products and services, report ded.

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(With ANI inputs)