Conservative party leader O’Toole calls for security review of Chinese takeover of Neo Lithium

The leader of Canada’s conservative party, Erin O’Toole, has asked the government to conduct a national security review of the proposed takeover of Canada’s Neo Lithium (TSXV: NLC; US-OTC: NTTHF) by China’s Zijin Mining.  

O’Toole said that his party “will be calling an emergency meeting” of the industries committee to ensure that the Liberal party explain why they didn’t do the review “in the first place.”  

“Canada’s conservatives are calling on the liberal government to immediately conduct a national security review of the takeover of the mining company Neo Lithium by a Chinese state-owned and controlled company,” O’Toole said during a press conference on Jan. 17.  

Neo Lithium wasn’t immediately available for comment.  

The company’s Tres Quebradas lithium brine project (known as the 3Q project) is located in the Argentine province of Catamarca — considered to be the largest lithium producing area in the country.  

The 3Q project has measured and indicated resources of 5.3 million tonnes lithium carbonate equivalent at an average grade of 636 mg/l lithium.