Canada Signals Approval of US Government Stakes in Mining Firms

Canada is unlikely to object to US government investments in two Vancouver-based mining companies, Energy Minister Tim Hodgson said, describing the deals as “capitalism in action.”

The Trump administration announced last week that it would take a 10% stake in Trilogy Metals Inc. as part of a $35.6 million investment to boost critical minerals projects in Alaska. The US also recently agreed to acquire an interest in Lithium Americas Corp., which is developing the Thacker Pass lithium project in Nevada.

Tim Hodgson, Canada’s energy and natural resources minister, center, and other cabinet members.

Photographer: David Kawai/Bloomberg

The federal government has rules under the Investment Canada Act for acquisitions by state-owned entities, and Canada’s industry ...