Zijin said late Friday it would pay $960 million in cash for outstanding shares of Toronto-based Neo, which has a project in a lithium hotspot in Argentina. Neo’s stock was up nearly 14 per cent on the news. (The Logic)

Talking point: It’s the second deal in two weeks between a Canadian lithium company and Chinese firm, after Neo-backer CATL scooped up Millennial Lithium. The world needs to produce about seven times more lithium by 2030 amid the transition to electric vehicles—which require about 8 kg of lithium each, some analysts estimate. Canada wants to be a player in providing critical minerals, though China dominates the market. The question is whether Canadian regulators will fight such deals, after the Liberal government updated the Investment Canada Act guidelines in March to address national security concerns around the sector. Innovation, Science and Economic Development Canada told The Logic it could not comment on the Millennial deal due to confidentiality provisions in the Investment Canada Act, and did not immediately reply to a request for comment about the Neo deal.