US President Joe Biden has ordered MineOne’s land acquisition process to be halted amid concerns over Chinese ownership, foreign technology and proximity to a strategic missile base.
The Chinese-majority mining company, MineOne Partners Limited, has been ordered to halt the process of purchasing land near the Warren Air Force Base nuclear missile base in Wyoming. The White House states that the Chinese mining company established a headquarters within a mile of the nuclear missile base without obtaining proper authorization.
The White House order states that the company must remove all mining equipment from the land within 120 days. The proximity to the military site and the presence of specialized foreign-origin technologies have raised concerns about the potential use of such resources for surveillance and espionage activities. These possibilities would pose a potential threat to the national security of the United States, and thus, the purchase process has been suspended.
Another aspect that emerged during the acquisition plan was that the transaction had not been submitted to the Committee on Foreign Investment in the United States (CFIUS), the body responsible for reviewing potential implications of foreign investments on national security.
MineOne is required to fully cooperate with CFIUS, providing regular updates on compliance efforts and timelines for completing removal actions. Failure to meet these requirements may result in further law enforcement measures and sanctions.
