Inuit org silent as feds review sale of Nunavut gold mine to Chinese company – Nunatsiaq News

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Inuit org silent as feds review sale of Nunavut gold mine to Chinese company – Nunatsiaq News

by ahnationtalk on August 13, 2020131 Views

13 August 2020

“It is in the hands of Investment Canada”

The fate of the sale of TMAC Resources Inc. to Shandong Gold Mining Co. Ltd. should be known by the end of September.

SD Gold, a Chinese state-owned company, wants to buy TMAC, which owns western Nunavut’s Hope Bay gold mine, for $204.7 million.

Investment Canada is expected to release its review decision about the mine by the end of the third quarter of the year, TMAC said in a recent regulatory update.

But until this decision is released, the Kitikmeot Inuit Association, which represents Inuit in western Nunavut’s five communities, is not saying whether or not it gave the federal agency a positive recommendation for the sale.

Read More: https://nunatsiaq.com/stories/article/inuit-org-silent-as-feds-review-sale-of-nunavut-gold-mine-to-chinese-company/

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