A Chinese mining company is acquiring a 15 percent stake in the Canadian critical minerals development firm Solaris Resources Inc. This move marks the latest challenge presented by Chinese mining giants to Canada’s national security policy on critical minerals.
Solaris revealed a subscription agreement with China-based Zijin Mining Group Jan. 11. The deal involves a roughly $130 million private placement of Solaris common shares at a subscription price of $4.55 per share by a Zijin affiliate. A private placement is a sale of stock shares or bonds to selected investors and institutions rather than on the open market.
