investment and does not restrict foreign involvement in the development of its mineral resources based on deposit size, minimum government equity participation, or commodity (except for uranium). Under the 1987 Non-Resident Ownership Policy, foreign companies are free to explore for uranium but, once a property starts to produce uranium, it must be 51% Canadian-owned. This majority requirement may be waived by the federal government if no Canadian investor can be found. Foreign Investment Regulations Canada is open to foreign The Investment Canada Act reviews foreign investment above an announced asset threshold to determine if it will be of a net benefit to Canada. The threshold for a transaction for investors from World Trade Organization (WTO) member countries was $299 million in 2010 (the figure is adjusted annually). For investors from non-WTO member countries, the review threshold is $5 million for direct investments. Recently approved foreign takeovers of Canadian mining companies under the Investment Canada Act include: Vale (Inco - 2006), Xstrata plc (Falconbridge - 2006), Rio Tinto plc (Alcan Inc. - 2007), and Walter Energy (Western Coal Corp. - 2010).
Posted on: Sun, 27 Jul 2014 00:10:44 +0000
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