The Foreign Investment Review Board did not allow Northern Minerals' largest shareholder to boost stake on grounds of national interest.

The company's founder, Robert Friedland, said he might bring in a minority partner to help develop DRC copper assets.

The deal still requires the approval of Australia’s regulatory bodies and the copper-gold miner shareholders, who are set to vote in April.

Scientists and NGOs are asking Ottawa to ban the activity, as the country hosts an international marine conservation summit that kicks off on Friday in Vancouver.

The Japanese trading house said reasons for offloading its interest in the Canadian mine included unstable operations, declining grades and increased risk of environmental liabilities.

The precious metals miner has expanded into battery metals including lithium and nickel through a string of recent acquisitions.

Decision follows an April 1 resolution that blocked other Russian metals including copper, lead and aluminum from British warehouses.

Huludao Ruisheng's storage site in Qinhuangdao is reportedly holding about one-third of the 300,000 tonnes of copper concentrate it should have.

The Canadian miner posted adjusted earnings of C$1.7 million for the three months ended June 30, a 96% drop from Q2 2021.

The firm’s coal division generated earnings of $8.9 billion in the first six months of the year as prices for the fossil fuel have soared.

Government's measure comes as protests against mining companies have shut down 20% of Peru’s copper output.

Miner has inked a deal with power utility BC Hydro, which will supply hydro-sourced electricity during construction of the KSM gold project.