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Though TMAC has struggled to realize profitability, it has constructed appreciable infrastructure together with a port and an airstrip, in addition to a processing plant. Its strategic infrastructure has drawn consideration to — and criticism of — China’s rising presence within the Canadian Arctic.
“For those who take a look at it from a safety and navy viewpoint, the issues can be they’ve bodily property on the bottom within the Arctic,” stated Pierre Leblanc, a non-public advisor with navy expertise within the Arctic, who advises mining companies.
The mine’s infrastructure might enable China to service ships utilizing Arctic waters, the port might be used to deliver massive tools into North America, and function a spot to covertly monitor conversations or Canada’s early warning radar system that’s primarily based within the Arctic, Leblanc stated. Nonetheless, the federal government might monitor the positioning and these issues should be weighed towards the financial advantages of an working mine together with the roles and tax revenue it offers, he stated.
TMAC had beforehand indicated that Ottawa was contemplating whether or not to assessment the transaction. On Thursday, TMAC stated in a press launch that the assessment would happen underneath the Funding Canada Act and expects it to conclude by the primary quarter of subsequent 12 months.
“We anticipated that there most likely can be a nationwide safety assessment,” Jason Neal, chief government of TMAC, informed the Monetary Submit.
For those who take a look at it from a safety and navy viewpoint, the issues can be they’ve bodily property on the bottom within the Arctic
Zarah Malik, a spokesperson for the Ministry of Public Security, which is conducting a part of the assessment, initially stated she would supply remark, however then deferred inquiries to the Ministry of Innovation, Science and Financial Growth, which didn’t reply to questions by the point of publication.