OTTAWA — Representatives of the Chinese government say Canada was “wrong” to reject the proposed takeover of an Arctic gold mine by a state-owned company, the latest jab in an already-fraught relationship between the two countries.
Canada on Tuesday rejected the proposed takeover of Toronto-based TMAC Resources Inc. by China’s Shandong Gold Mining Co. Ltd., citing national security concerns. Under the deal, Shandong would have paid $230 million not including debt to acquire the Canadian firm, which is developing a gold mine in Hope Bay, Nunavut.
